Built for the complexity
of the build.

Yes. Most construction businesses must register for GST once revenues exceed $30,000. You charge GST on taxable supplies, claim input tax credits on expenses, and remit the difference to CRA. GST tracking is especially important when dealing with holdbacks and progress billings.

Under BC's Builders Lien Act, a 10% holdback must be retained from each payment until the lien period expires. We track holdbacks receivable and payable separately so your financial statements reflect the true cash position of each project.

Yes, and for most construction businesses with consistent profitability it makes sense. Incorporating lets you access the small business tax deduction, retain earnings at lower corporate rates, and separate personal assets from business liability. We assess your situation before recommending.

Maintain contracts, change orders, progress billing statements, supplier invoices, payroll records, bank statements, and GST remittance records. Organized job costing records are especially important — they support your tax deductions and protect you in the event of a CRA review.

Job costing tracks revenue and expenses at the individual project level, giving you real-time visibility into each job's profitability. Standard accounting reports at the company level only. It tells you which projects are profitable before it is too late to act.

Construction businesses have variable payrolls with salaried, hourly, and subcontractor workers. Each worker must be correctly classified, T4s and T4As issued above applicable thresholds, and source deductions remitted on time. Misclassification is a common CRA audit trigger in this industry.