Corporate tax accountant for pharmacies in Toronto and the GTA

A pharmacy's margin lives in inventory, dispensing fees and a front shop that is taxed differently from prescriptions. Listed accountants on our platform keep those streams separate and file the corporate return from books that match the till.

Prescription drugs are generally zero-rated for GST/HST, while many over-the-counter products, cosmetics and convenience items are taxable. Mixing them in one sales total is how pharmacy books go wrong.

The accountants listed here reconcile drug inventory, third-party plan payments and staff payroll so year-end is a review, not a reconstruction.

What is handled for pharmacies

1. 1

   Corporate tax filing (T2)

   Your pharmacy corporation's return is prepared from reconciled inventory and sales and filed ahead of the deadline.

2. 2

   Sales split

   Prescription revenue and taxable front-shop sales are booked separately so HST is charged only where it applies.

3. 3

   Inventory

   Drug and retail stock are counted and costed so profit and tax are based on what you actually sold.

4. 4

   HST returns

   Tax collected on taxable goods is reconciled against input tax credits and filed on your schedule.

5. 5

   Payroll

   Pharmacists, technicians and front-shop staff are paid with the right remittances, T4s and Records of Employment.

6. 6

   Buying or selling

   Inventory, goodwill and the corporate shares are reviewed so you know the tax difference before a sale closes.

Who this helps