A financial technology firm based out of Ontario has launched a new Personal Tax solution for clients.
London’s interVal says that its Personal Tax product that automatically extracts, analyzes, and surfaces planning opportunities from clients’ personal tax documents, including T1 General returns, Notices of Assessment, and CRA Assessments.
For Canadian wealth advisors, a client’s annual tax return is one of the most information-rich documents they handle, suggests suggests interVal cofounder Trevor Greenway—yet also one of the least leveraged.
“Advisors have always known that a client’s tax return holds a year’s worth of planning conversations,” he says, adding: “The problem has always been getting to those insights before the meeting ends.”
Manually reviewing T1s for RRSP and TFSA room, income splitting opportunities, capital gains positioning, and year-over-year trends takes hours per client; most of those insights never make it into the client conversation, according to Greenway.
“interVal Personal Tax puts that intelligence in advisors’ hands in minutes, not hours, so they can walk into every review with the context they need to prove their value and deepen the relationship,” says the chief executive officer.
Features of the software include “Dynamic Return Architecture,” which moves beyond tax summaries by formatting income sources, deductions, and credits into a “strategic framework built specifically for advisor-client conversations.”
There is also “Proactive Wealth Optimization,” which synthesizes data points across multiple schedules to surface advanced wealth planning opportunities, including strategic income splitting, optimal capital gains positioning, and missed opportunities from prior years.
“Multi-Year Trend Forecasting,” meanwhile, tracks shifts in income composition and marginal tax rate trajectories over time to predict future tax liabilities before they occur.
The technology is built on SOC 2 Type 2-compliant infrastructure with enterprise-grade encryption and comprehensive data protection protocols, according to the company.
interVal was founded in London in 2019.
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