Welcome to Vijay Kalra CPA PC

Accounting Services & SRED Consulting

We provide a comprehensive range of professional accounting and advisory services, including tax compliance, assurance engagements, and SR&ED consulting. Our goal is to support businesses in improving financial performance, maintaining regulatory compliance, and achieving long-term success.

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Why VKCPA?

Accounting and Advisory Services

The fields of accounting and taxation continue to evolve and have become increasingly complex both in Canada and internationally.

At Vijay Kalra CPA Professional Corporation, we believe our role extends beyond providing compliance services. Our objective is to serve as a trusted professional partner to our clients by offering practical guidance that supports sound financial management, regulatory compliance, and informed business decision-making.

We work closely with our clients to help them navigate financial reporting requirements, taxation matters, and operational challenges while strengthening governance practices and internal financial processes.

Boutique Services

As a boutique professional practice, Vijay Kalra CPA Professional Corporation provides specialized advisory services that extend beyond traditional accounting and tax compliance.

In addition to core accounting and taxation services, the firm offers consulting in areas such as the Scientific Research and Experimental Development (SR&ED) program, regulatory and compliance reviews, and international tax planning.

These services assist businesses in navigating complex regulatory frameworks, improving governance practices, and structuring their operations in a manner that supports sound financial management and long-term growth.

Professional and personal

Our approach to engagements is both professional and personal. A lot of what we do is complex and it’s our job to take our clients through the process of it making sense for them. This requires in depth knowledge of the client’s business and management team. We believe great solutions are found when people work together.

Areas of Practice

Accounting & Assurance

Bookkeeping and Accounting (Notice to Reader /Compilation Engagements)

Attestation Services – Review Engagements and Financial Statement Audits

Financial Statement - Preparation and Reporting

Payroll and HST Compliance

Internal Control and Financial Process Reviews

Tax Services

Personal Income Tax Preparation and Planning

Corporate and Trust Tax Compliance

Corporate Tax Planning and Advisory

HST and Payroll Tax Compliance

Representation in CRA Reviews and Audits

Advisory & Consulting

Business Advisory and Strategic Consulting

Assistance with Business Financing and Bank Loans

Regulatory Compliance and Governance Reviews

SR&ED Advisory and Claim Support

Business Valuations and Financial Analysis

Specialty Advisory Services

In addition to traditional accounting and taxation services, the firm offers specialized advisory services in selected areas requiring technical expertise and strategic financial planning. These services support businesses in optimizing financial outcomes, navigating complex tax frameworks, and developing effective financial models.

SR&ED Credit Consulting

Advisory services related to the Scientific Research and Experimental Development (SR&ED) tax incentive program, including eligibility assessment, claim preparation, and documentation support.

International Tax Modelling and Planning

Strategic international tax planning and financial structuring services designed to support businesses with cross-border operations and investment structures.

Revenue and Other Financial Models for SaaS Companies

Development of financial and revenue models tailored for software and technology companies, supporting planning, growth forecasting, and investment analysis.

Other Consulting and Compliance Services

Residential Real Estate Tax Matters

In recent years, the Canada Revenue Agency (CRA) has increased its review of residential real estate transactions. Property owners and investors involved in buying, renovating, or selling properties may face complex tax and HST implications.

Our firm assists clients in navigating these matters and addressing CRA inquiries related to residential real estate transactions.

Areas we assist with:

Tax implications related to property flipping

Pre-construction condominium and housing transactions

Renovation and resale of residential properties

HST assessments related to principal residence claims

CRA reviews and reassessments related to real estate transactions

Supporting U.S. Companies Establishing Operations in Canada

Canada and the United States maintain one of the world’s largest cross-border trading relationships. However, businesses expanding into Canada must comply with Canadian tax regulations, corporate laws, and regulatory requirements.

Vijay Kalra CPA Professional Corporation assists U.S. businesses in establishing and operating Canadian subsidiaries while ensuring compliance with Canadian financial and regulatory obligations.

Services may include

Incorporation of a Canadian subsidiary

Corporate tax, HST, and payroll registrations

Assistance with workers’ compensation registrations

Banking and financial setup support

Advisory related to government programs such as SR&ED

Transfer pricing considerations

Accounting, reporting, and ongoing compliance support

Vijay Kalra CPA CA

Chartered Professional Accountant | Chartered Accountant (Ontario)

Licensed Public Accountant

Independent Assurance, Audit, and Compliance Oversight Professional

Professional Overview

Mr. Vijay Kalra is a Chartered Professional Accountant and Licensed Public Accountant with over forty (40) years of professional experience in assurance services, regulatory compliance review, internal audit, forensic investigation, and governance oversight.

Since 1986, Mr. Kalra has conducted audit and review engagements in accordance with professional assurance standards, requiring independent evaluation of financial reporting systems, assessment of internal controls, structured compliance testing, and evidence-based reporting. His work has consistently involved verification of compliance with statutory, contractual, and regulatory obligations.

Mr. Kalra’s professional background includes direct interaction with regulatory authorities, management reporting on compliance deficiencies, forensic investigation assignments, and advisory services designed to strengthen governance and risk management frameworks.

Education and Professional Designations

Bachelor of Commerce (Honours)

Shri Ram College of Commerce

University of Delhi — 1979

Chartered Accountant (CA) — 1983

(Completion of articling and professional examinations)

Chartered Professional Accountant (CPA) — North America

Chartered Accountant (Ontario)

Licensed Public Accountant (Canada)

These designations require adherence to strict professional standards of independence, objectivity, professional skepticism, and ethical conduct.

Professional Experience

Independent Licensed Public Accountant

Canada | 1992 – Present

Principal of independent public accounting practice providing assurance, compliance evaluation, and forensic accounting services.

Assurance Services (Audits and Review Engagements)

Since 1986

  • Conducted audit engagements requiring independent testing of financial records and internal control systems
  • Performed review engagements under applicable professional standards
  • Evaluated compliance with accounting standards and statutory obligations
  • Assessed risk exposure and control effectiveness
  • Issued formal reports supported by audit evidence and documentation.

These engagements required structured sampling, compliance testing, documentation review, and independent reporting — functions aligned with regulatory monitoring methodologies.

Corporate Tax Compliance and Regulatory Interface

Since 1986

  • Filing of HST, payroll remittances, and T2 corporate income tax returns
  • Handling Canada Revenue Agency (CRA) audits
  • Managing regulatory correspondence and audit responses
  • Representing clients in CRA appeals and proceedings before Tax Court.

This experience includes direct regulatory interaction and compliance oversight within federally regulated tax frameworks.

Internal and Management Audits

Approximately 5 years

  • Conducted business system reviews
  • Performed compliance testing of operational processes
  • Evaluated adequacy of internal controls
  • Reported findings to management
  • Recommended corrective measures to strengthen compliance and efficiency.

These assignments required systematic testing and objective reporting of compliance gaps.

Forensic and Investigative Accounting

Approximately 5 years

  • Business valuations
  • Litigation support
  • Quantification of damages
  • Investigation of financial discrepancies and control failures.

Forensic engagements required investigative methodology, documentation review, analytical procedures, and independent conclusions based on evidence.

Core Regulatory and Oversight Competencies

  • Independent audit and assurance methodology
  • Compliance testing and control evaluation
  • Regulatory reporting and documentation standards
  • Internal audit and risk assessment
  • Investigative and forensic analysis
  • Governance framework evaluation
  • Professional independence and objectivity.

Regulatory Environment Familiarity

Mr. Kalra’s professional practice operates within regulated professional accounting frameworks governed by CPA standards and statutory obligations. His experience includes working within environments requiring compliance with federal and provincial regulatory requirements.

He possesses familiarity with Ontario postsecondary regulatory frameworks, including the Ontario Colleges Act, 2005 and compliance expectations applicable to career colleges.

Professional Methodology

Mr. Kalra applies a structured, evidence-based approach to oversight functions, including:

  • Risk identification and control assessment
  • Independent compliance verification
  • Documentation review and sampling
  • Formal reporting of findings
  • Recommendation of corrective actions
  • Follow-up review where required.

His professional approach emphasizes independence, professional skepticism, analytical rigor, and accountability.