Real Estate Accounting

Real Estate Investors & Landlords, maximizing returns, minimizing tax.

We report rental income and expenses accurately to optimize allowable deductions, track capital cost allowance and depreciation to reduce taxable income, advise on GST implications for residential and commercial property transactions, and structure holdings through corporations or trusts to protect assets and defer tax.

Real Estate Accounting

Realtors & Real Estate Agents, keeping more of every commission.

We track commission income and business expenses to minimize personal tax, advise on incorporation to split income and reduce overall tax burden, manage GST registration and remittance for self-employed realtors, and prepare T1 and T2125 or corporate T2 returns to ensure full CRA compliance.

Real Estate Accounting

Property Management Companies, financial clarity across every portfolio.

We maintain separate trust and operating accounts to ensure regulatory compliance, reconcile management fees, owner distributions, and maintenance expenses, manage GST, payroll, and source deductions for property management operations, and prepare year end financial statements and corporate tax filings accurately and on time.

From First Meeting to Filed Return

STEP 01

Understanding your portfolio.

We start by reviewing your properties, ownership structure, income sources, and existing filings. We identify GST obligations, deduction opportunities, and any structuring gaps before any work begins.

From First Meeting to Filed Return

STEP 02

Organizing your records.

We reconcile rental income, commission statements, management fees, and property expenses to ensure your records are accurate, complete, and ready for reporting and tax filing.

From First Meeting to Filed Return

STEP 03

Filing your returns.

We prepare your T1 or T2 corporate return, GST/HST filings, and any rental schedules — accurately and on time, with full CRA compliance and no missed deductions.

From First Meeting to Filed Return

STEP 04

Planning your next move.

Once filings are done, we stay available for acquisition planning, restructuring advice, and CRA correspondence. Real estate moves fast — we stay ready when you are.

Question 01

Do I need to charge GST when selling a property?

It depends on the property and transaction type. New residential construction is generally subject to GST. Resale residential properties are typically exempt. Commercial properties are generally taxable. We review each transaction individually to determine your exact GST obligations.

Question 02

How is rental income taxed in Canada?

Rental income is reported on your T1 or T2. You can deduct mortgage interest, property taxes, insurance, maintenance, management fees, and capital cost allowance. Proper record-keeping is essential to support your deductions in the event of a CRA review.

Question 03

Should I hold my rental property in a corporation?

It depends on your income level, the number of properties you hold, and your long-term plans. Corporations offer tax deferral but add complexity. For some investors a personal hold works better. We analyze your specific situation before recommending a structure.

Question 04

What are the tax implications of selling a rental property?

When you sell a rental property, recaptured CCA is fully taxable and the capital gain is included at 50%. A partial principal residence exemption may apply if the property qualified for some years. Planning the timing in advance can significantly reduce the tax impact.

Question 05

What is the principal residence exemption and how does it work?

The principal residence exemption eliminates or reduces the capital gain when you sell a qualifying home. For each year the property qualifies, that year's gain is exempt. Proper designation and reporting on your T1 is required. We ensure it is filed correctly.

Question 06

Do realtors need to charge GST on their commissions?

Yes. Real estate commissions are subject to GST. If annual commission income exceeds $30,000, you must register and charge GST. You can claim input tax credits on eligible business expenses. Many realtors benefit from incorporating to access additional personal tax advantages.

Accounting builtfor real estate in BC.

Real Estate Investors & Landlords, maximizing returns, minimizing tax.

Realtors & Real Estate Agents, keeping more of every commission.

Property Management Companies, financial clarity across every portfolio.

Understanding your portfolio.

Organizing your records.

Filing your returns.

Planning your next move.

Accounting built
for real estate in BC.