Tax Accountant for Boat Dealers in Ontario and Across Canada
We calculate the federal luxury tax on every subject vessel priced over $250,000 as the lesser of 10% of the full value and 20% of the value above $250,000, then charge 13% HST on the luxury-tax-inclusive amount because the luxury tax forms part of the consideration, apply subsection 153(4) of the Excise Tax Act so a trade-in taken from a customer who is not a registrant is taxed on the net consideration, gross up brokerage and consignment deliveries for non-registrant owners under section 177, apportion your input tax credits because finance and insurance commissions are exempt financial services under Schedule V Part VII, carry hulls on the lot as section 10 inventory rather than depreciable property, deduct floor plan interest when incurred, and defer prepaid winter storage under a paragraph 20(1)(m) reserve. Whether you sell new and used powerboats, pontoons, personal watercraft, sailboats or yachts, we handle the inventory accounting, the luxury tax and HST returns, the technician and sales payroll with WSIB and Employer Health Tax, and plan the salary, dividends and eventual sale of your company — with AFFORDABLE flat fees.
AFFORDABLE Boat Dealer Tax Accountant
A boat dealership carries some of the highest-value inventory in retail, sells through a finance office, services what it sells and stores it all winter — and each of those creates its own tax question. Hulls held for sale are inventory under section 10 of the Income Tax Act at the lower of cost and fair market value, never depreciable property, so no capital cost allowance is claimed on stock, while floor plan interest is deductible when incurred and the payable has to be reconciled to the units physically on the lot. The federal luxury tax applies to a subject vessel priced over $250,000 as the lesser of 10% of the full value and 20% of the value above $250,000, and because the luxury tax forms part of the consideration, HST is then charged on the luxury-tax-inclusive amount. A trade-in taken from a customer who is not a registrant is taxed on the net consideration under subsection 153(4) of the Excise Tax Act, brokerage and consignment deliveries for non-registrant owners engage section 177, and the commissions you earn arranging financing and insurance are exempt financial services under Schedule V Part VII, which makes the dealership a mixed supplier that must apportion its input tax credits rather than claim them in full. At Gondaliya CPA, we specialize in unit inventory and floor plan accounting, luxury tax and HST mechanics, storage revenue deferral and corporate tax planning for boat dealers, providing AFFORDABLE flat-fee support that keeps you CRA-compliant and stops you paying more tax than you owe.
As a marine dealer accountant, we work with new and used powerboat, pontoon, personal watercraft, sailboat and yacht dealerships across Ontario, with year-round support rather than a once-a-year scramble. We tell you plainly what you can deduct, what you cannot, and where the real gross profit sits on each unit, each finance deal and each service ticket.
Let us handle the numbers so you can focus on the work that actually pays you.
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Accounting That Understands How a Boat Dealership Actually Works
Running a boat dealership comes with financial pressures a desk-bound business never faces. You floor plan six or seven figures of hulls that have to be counted and reconciled to the lender, you calculate a federal luxury tax on every vessel over $250,000 and then charge HST on the tax-inclusive amount, you take trade-ins from customers who are not registrants, you sell on consignment for private owners, you earn exempt finance and insurance commission that limits your input tax credits, and you bill an entire winter of storage in a single month. At Gondaliya CPA, we understand the financial reality of a marine dealership and provide practical, trade-focused solutions across the GTA and all of Ontario.
Stay Compliant and Minimize Your Boat Dealership Tax
For a boat dealer, staying onside with CRA and WSIB and paying the least legal tax are the same job. We keep every HST, luxury tax, payroll and T2 filing on schedule while claiming every inventory, interest and capital cost allowance dollar the return allows, so nothing is missed and nothing invites a reassessment.
Accounting & Tax Experts for Boat Dealers
- AFFORDABLE + Fully Registered CPA Firm
- Business and Corporate Tax Expert
- Small & Medium Business Expert
- Accounting, bookkeeping, and tax filing
- Certified CPA
- 1300+ 5-star Google reviews
- 30-Day Money-Back Guarantee
- 60-Day Fees Matching Policy
Why Choose Our Accounting Services for Boat Dealers?
Tax Planning — Inventory & Luxury Tax Expertise
We know the trade: hulls carried as section 10 inventory rather than depreciable property, floor plan interest deducted when incurred, the luxury tax computed as the lesser of 10% of full value and 20% of the value above $250,000, Class 8 yard and lift equipment at 20% and Class 10 service trucks at 30%. We protect the $500,000 Small Business Deduction and keep passive income under the $50,000 grind.
Consulting — Floor Plan, F&I & Storage Bookkeeping
Our bookkeeping runs unit-level inventory with cost, freight and rigging carried on every hull, reconciles the floor plan payable to the lot monthly, splits exempt finance and insurance commission from taxable revenue so input tax credits can be apportioned, and defers prepaid storage. We cost each department so you see the real gross profit.
CRA Representation — Luxury Tax & HST Audit
When CRA reviews your luxury tax calculation on a vessel over $250,000, your trade-in and consignment treatment, your input tax credit apportionment or your year-end unit inventory, we prepare the response, reconcile WSIB, and pursue relief on Form RC4288 where penalties came from a prior error.
Bookkeeping — Payroll, Seasonality & Sale
We run your technician, rigger, yard and sales payroll with commissions, WSIB and Employer Health Tax, forecast the winter cash draw and the spring release, and get you ready to sell. We model the profit level where incorporating pays off and handle the eventual disposition of your company.
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Boat Dealer Clients
Boat Dealer Tax and Accounting Services in Ontario
Corporate Tax Filing (T2) for Boat Dealers
Professional T2 preparation with Schedule 125 revenue by department, section 10 inventory on the hulls you hold, floor plan interest, Schedule 8 capital cost allowance on yard, lift and service assets, and CRA compliance on every line.
Bookkeeping & Accounting for Boat Dealers
Unit inventory, floor plan, deal jacket, service ticket and storage bookkeeping with financial statements, clean records, and monthly reporting built for a marine dealership.
Payroll Services for Boat Dealers
Technician, rigger, yard and sales payroll with commissions, WSIB, PD7A remittances, T4s and Employer Health Tax once payroll passes $1 million.
GST/HST Filing for Boat Dealers
AFFORDABLE HST filing at 13% on units, parts, service and storage, with trade-in treatment under subsection 153(4), section 177 consignment rules, luxury tax returns and apportioned input tax credits.
Tax Planning for Boat Dealers
Smart tax planning to protect the Small Business Deduction, time equipment purchases and inventory write-downs, defer prepaid storage under a 20(1)(m) reserve, and plan salary, dividends and sale.
Corporate Catch-Up Filing for Boat Dealers
File overdue T2, HST and luxury tax years, rebuild missing unit inventory, floor plan and storage records, and get back into CRA compliance with accurate catch-up support.
CRA Audit Resolution for Boat Dealers
Expert support for inventory, luxury tax, trade-in, consignment and input tax credit apportionment audits, handled with confidence straight from your dealer management system.
CPA Financial Statements (Notice to Reader) for Boat Dealers
CPA-compiled financial statements that banks and floor plan lenders accept for your marine dealership corporation.
Incorporation Services for Boat Dealers
Full incorporation including NUANS, articles, share structure, and the section 85 rollover of unit inventory, shop equipment and goodwill from your unincorporated dealership.
Catch-Up Bookkeeping Services for Boat Dealers
We rebuild months of missing deal, floor plan, service, storage and commission records so your dealership books are current and CRA-ready.
US Corporation & LLC Tax Filing for Boat Dealers
Cross-border filing for dealers sourcing hulls from American builders or selling to US buyers, covering 1120 and treaty-based 1120-F returns, Form 5472 and state obligations.
Voluntary Disclosure Program for Boat Dealers
We file a VDP disclosure to correct unreported deliveries, luxury tax never calculated or unfiled T2 years before CRA contacts you, cancelling penalties and reducing interest.
Accounting & Tax Services Tailored for Boat Dealers
Real, practitioner-level CPA expertise for new and used powerboat, pontoon, personal watercraft, sailboat and yacht dealerships across Ontario — built for how a marine dealership actually runs.
- We prepare your T2 with GIFI on Schedule 100 and Schedule 125, separating new and used hull sales, parts, service labour and storage revenue in QuickBooks Online so CRA’s matching program never flags the file; correct coding reversed a $19,000 assessment.
- Hulls held for sale are inventory under section 10 of the Income Tax Act at the lower of cost and fair market value, never depreciable property, so no capital cost allowance is claimed on stock; one correction removed $46,000 of improper depreciation.
- Floor plan interest on your inventory line is deductible when incurred, so we reconcile the floor plan payable to the hulls physically on the lot each month in QuickBooks; one reconciliation exposed $27,000 of interest charged on units already sold.
- We claim capital cost allowance on Schedule 8 for Class 8 yard, shop and travel-lift equipment at 20%, Class 10 service trucks and trailers at 30%, Class 13 leasehold and the Class 1 building; one $210,000 lift purchase claimed $21,000 first year.
- Manufacturer holdbacks, rebates and co-op advertising credits are income under paragraph 12(1)(x) in the period earned rather than when the credit note lands, so we schedule them by program; one dealership timing fix moved $34,000 into the correct year.
- We post hull sales, motor and parts revenue, rigging and commissioning labour, slip and dockage fees and floor plan draws to the right accounts in QuickBooks Online, giving the six years of records section 230 requires; one cleanup surfaced $23,000 of unbilled service work.
- We run unit-level inventory in Lightspeed DMS tied to QuickBooks so every hull carries its own cost, freight and rigging until it sells and section 10 closing stock ties to the lot; one reconciled count corrected a $38,000 overstatement of deductions.
- We separate exempt finance and insurance commission income from taxable hull, parts and service revenue in Xero, because Schedule V Part VII treatment drives how much of your input tax credits you may claim; one split rebuilt $250,000 of exempt commission correctly.
- We book prepaid winter storage and shrink-wrap deposits to deferred revenue rather than sales on receipt, releasing them across the covered season in QuickBooks; on one operation this moved $180,000 out of a single month and fixed every interim statement.
- We reconcile the floor plan payable, curtailment payments and interest to the hulls on the lot every month in Dext and QuickBooks, because a unit sold out of trust is invisible in a spreadsheet; one review found $52,000 unremitted to the lender.
- We set up technician, rigger, yard and sales payroll in Wagepoint, withholding income tax, CPP and EI and remitting on the PD7A by the 15th, because CRA’s 10% late-remittance penalty on a $16,000 remittance costs $1,600.
- We calculate sales commissions and finance-office bonuses from delivered units each pay period in Xero, report them on the T4 and withhold correctly, because a commission earned in August but paid in September is taxable when paid; one fix corrected $7,400 of under-withholding.
- We register WSIB coverage in the correct rate group before your first technician or yard hand starts and reconcile premiums in Wagepoint to the T4 Summary; one registration avoided a $13,000 back-assessment reaching two seasons into the past.
- We prepare and file T4 and T4 Summary slips from your Wagepoint records by the last day of February, avoiding the per-slip penalty CRA applies to late filings; on one dealership with 28 seasonal and full-time staff that exposure reached $2,800.
- We manage Ontario Employer Health Tax once annual payroll passes the $1,000,000 exemption, file the annual return by March 15 and reconcile it to the PD7A, because spring rigging season pushes seasonal payroll over the line; one file caught $4,600 unremitted.
- Hull, motor, parts and service sales are taxable at 13%, so we set QuickBooks to charge HST on every delivery and claim input tax credits on your taxable purchases, freight, rent and shop supplies; one review recovered $18,400 of missed credits.
- The federal luxury tax applies to a subject vessel priced over $250,000 as the lesser of 10% of the full value and 20% of the value above $250,000, and because it forms part of the consideration HST is charged on the luxury-tax-inclusive amount.
- Where a customer trades a boat in and is not a registrant, subsection 153(4) of the Excise Tax Act taxes only the net consideration after the trade credit; one dealership had charged tax on the gross price, over-remitting $21,000.
- On brokerage and consignment sales for a non-registrant owner, section 177 of the Excise Tax Act generally deems you to have made the supply, so tax is charged on the full selling price rather than your commission; one correction cleared $16,700.
- A boat sold to a non-resident and exported is zero-rated under Schedule VI Part V of the Excise Tax Act where the conditions are met and proof of export is retained; one file recovered $34,000 of tax remitted on documented export deliveries.
- We set the salary-versus-dividend mix, paying enough T4 salary to build RRSP room while the balance flows as dividends, so combined tax stays near the 12.2% Ontario small-business rate under section 125; on one owner this deferred $26,000.
- We keep active income under the $500,000 Small Business Deduction limit and hold passive investment income below the $50,000 threshold where the section 125 grind begins, tracking surplus cash between seasons; one plan preserved $31,000 of small-business savings.
- Prepaid seasonal storage is income under paragraph 12(1)(a) when received, so we claim the paragraph 20(1)(m) reserve for the unexpired months and release it next year; on one operation this deferred $180,000 of October storage billings out of the fiscal year.
- We time travel-lift, forklift, trailer and service-truck purchases before fiscal year-end so the half-year rule and the Class 8 and Class 10 rates on Schedule 8 give the largest first-year deduction; on one $190,000 purchase this pulled forward $28,000 of depreciation.
- We plan at least two years ahead so your shares qualify for the $1.25M Lifetime Capital Gains Exemption under section 110.6 claimed on Form T657, purifying the company of non-active assets before a sale; one purification protected $340,000 of gain.
- We reconstruct hull deliveries, parts and service revenue and floor plan activity from bank deposits, lender statements and deal jackets where no bookkeeping exists across your unfiled T2 years; one rebuild cut a $58,000 arbitrary assessment.
- Late filing costs 5% of the balance owing plus 1% per month up to twelve months under subsection 162(1), so we file your oldest unfiled T2 first to stop the penalty compounding; on one dealership this limited penalties to $8,300.
- We file the missing HST returns and reconcile the 13% charged on hulls, parts, service and storage against what was remitted, apportioning input tax credits for the exempt finance and insurance commission earned; one catch-up cleared a $17,900 shortfall.
- We rebuild closing inventory for each unfiled year under section 10 from purchase orders, lender curtailment schedules and physical counts, so every year’s cost of goods is defensible; on one file this corrected $71,000 of overstated deductions.
- We rebuild the undepreciated capital cost pools across the unfiled years so missed allowance on the Class 1 building, Class 8 shop and lift equipment and Class 10 service trucks is recovered on Schedule 8; one rebuild restored $24,000 of depreciation.
- When CRA opens an audit we manage the file and answer the section 10 inventory and cost-of-goods queries inside the deadlines from Lightspeed DMS and QuickBooks, so a one-year review does not expand into three; one file contained $42,000 of exposure.
- When an auditor challenges your input tax credit recovery, we produce the apportionment method that splits credits between taxable hull, parts and service revenue and exempt finance and insurance commission under Schedule V Part VII; one method defended $250,000 of commission income.
- We defend luxury tax filings when CRA tests whether the lesser-of calculation on a subject vessel over $250,000 was applied and whether HST was charged on the tax-inclusive consideration; on one $420,000 hull this corrected a $14,000 error before assessment.
- We answer HST audits on trade-in credits, brokerage and consignment deliveries and export sales with deal jackets, ownership transfers and the section 177 agency records the Excise Tax Act expects; on one review this protected $36,000 of adjustments.
- We file the Notice of Objection on Form T400A within 90 days of a reassessment under subsection 165(1) and pursue taxpayer relief on Form RC4288 where a prior accountant’s error caused penalties; on one dealership this cancelled $9,200.
- We prepare the CSRS 4200 compilation engagement financial statements a floor plan lender requires across two fiscal years, tied to the T2, before renewing the $2,000,000 inventory facility secured on the hulls sitting on your lot.
- Your compiled statement of financial position presents section 10 inventory at the lower of cost and fair market value, the floor plan payable, deferred storage revenue and Class 8 lift equipment at net book value; one file unlocked $260,000 of financing.
- We build the statement of operations with hull, motor, parts, service and storage revenue and exempt commission classified consistently across two years and tied to Schedule 125, so the lender approves the facility; one set supported a $145,000 credit line.
- The CSRS 4200 communication discloses that no audit or review was performed, and without it the Business Development Bank of Canada rejects the working-capital loan a seasonal operation needs to carry stock through winter; one report unlocked $120,000.
- We deliver the compiled statements within 30 days of receiving your records and T2 figures, because a lender’s conditional offer expires and spring ordering stops with it; on one deal timely delivery saved a $480,000 pre-season hull order.
- We incorporate under the Ontario Business Corporations Act, giving you limited liability, a defined share structure and the 12.2% small-business rate on the first $500,000 of active income under section 125; on one owner this saved about $27,000 in year one.
- We complete the section 85 rollover on Form T2057, transferring hull inventory, shop equipment, the travel lift, service trucks and goodwill into the corporation at elected amounts, deferring gain and recapture; on one dealership this deferred $78,000 of tax.
- We open the corporation’s Business Number, HST, luxury tax and payroll accounts within the first 30 days and close the old registrations, so the same delivery is never reported twice; one setup prevented a $6,100 double-remittance.
- You must register for HST once taxable sales pass $30,000, which a single hull delivery clears, so we register on time and set the filing frequency in QuickBooks; one late registration would have cost $12,400 of unrecoverable tax.
- We structure the share classes and set the first fiscal year-end after the fall haul-out rather than mid-season, so dividends split among family shareholders and the first T2 balance-due date lands in a cash-rich month; one dealership freed $23,000.
- We rebuild unreconciled hull, parts and service revenue from deal jackets, work orders and bank deposits in QuickBooks Online, restoring the section 230 record trail; on one dealership this recovered $26,000 of unrecorded deposits across two seasons.
- We reconstruct the unit inventory nobody tracked, running a physical count of the lot and rolling it back through purchases and deliveries in Lightspeed DMS so each year’s section 10 cost of goods holds; one rebuild corrected a $33,000 overstatement.
- We separate the exempt finance and insurance commission that was posted to sales, rebuild the input tax credit apportionment for every missed period, and file the corrections; on one file this repaid $19,600 of credits claimed in full against exempt income.
- We rebuild prepaid storage and shrink-wrap billings that were booked straight to revenue, setting deferred revenue and the paragraph 20(1)(m) reserve for each unexpired season; on one operation this moved $164,000 into the year the service was actually delivered.
- We catch up technician and sales payroll postings and reconcile the PD7A remittances, WSIB premiums, commissions and T4 wages that fell behind in Wagepoint, so the Employer Health Tax return is right; one cleanup recovered $4,300 of over-remitted premiums.
- We file the US Form 1120-F return your company needs when sourcing hulls from American builders or selling to US buyers creates a US trade or business, claiming protection under the Canada-US treaty; one filing defended $52,000 of profit.
- Where you own a US subsidiary that files Form 1120, we prepare Form 5472 for every reportable transaction with the Canadian parent, because a missed information return carries a $25,000 penalty per year; one late filing was abated in full.
- We file the Form 8833 treaty-based disclosure and claim foreign tax credits on your Canadian T2 for US tax actually paid, so profit on cross-border hull sales is not taxed twice; one claim recovered $9,800 of Canadian tax.
- We resolve the hybrid-entity mismatch that arises when a US LLC is transparent to the IRS but a corporation to CRA, reconciling its pass-through income to your T2 so neither authority denies relief; one fix avoided $14,000 of double tax.
- We manage state income and sales tax obligations where you keep a US showroom, a leased slip or a commissioned sales agent, registering only where a real physical or economic nexus exists; one review closed $7,600 of exposure.
- We file your Voluntary Disclosures Program application on Form RC199 under subsection 220(3.1) before CRA contacts you, because a disclosure accepted under the general program cancels penalties in full and grants 50% interest relief; on one dealership this waived $14,200.
- We disclose luxury tax that was never calculated or filed on subject vessels sold above $250,000, presenting corrected lesser-of computations and the HST charged on the tax-inclusive consideration; one submission regularized $96,000 of tax without gross-negligence penalties.
- We correct input tax credits claimed in full while exempt finance and insurance commission was being earned, reconciling the apportionment through the disclosure so you regularize without the wilful-default penalties CRA would otherwise apply; one file settled $22,000 cleanly.
- We fold prior-year section 10 errors, depreciation wrongly claimed on hulls held for sale and unreported storage income into the submission, so the correction is complete and CRA cannot reopen the accepted years; one disclosure covered $110,000 of adjustments.
- We confirm your disclosure is voluntary, complete and at least one year overdue as the program requires, filing before any audit letter arrives, because a dealership that comes forward after CRA makes contact loses all relief; timely filing saved one owner $11,300.
Boat Dealer Tax & Luxury Tax Check
Six quick questions on your luxury tax calculation, HST stacking, trade-in treatment, input tax credit apportionment, storage deferral and whether it is time to incorporate. No fee shown.
1. Is the luxury tax on a vessel over $250,000 calculated as the lesser of 10% of full value and 20% of the value above the threshold?
2. Is HST charged on the luxury-tax-inclusive amount rather than on the pre-tax selling price?
3. Is HST on a trade-in taken from a non-registrant charged on the net consideration?
4. Are your input tax credits apportioned because finance and insurance commissions are exempt?
5. Is prepaid winter storage deferred to the season it covers rather than booked on receipt?
6. Is your boat dealership incorporated?
Free CPA Consultation for Boat Dealers
Case Studies: Boat Dealer Accounting & Tax
Barrie Boat Dealership — Luxury Tax, HST Stacking & Inventory
The problem: A Barrie dealership selling new and used cruisers was applying a flat 10% luxury tax to every hull priced above $250,000, ignoring the lesser-of test entirely, and was charging 13% HST on the pre-tax selling price instead of on the luxury-tax-inclusive amount. Two large deliveries in the same season carried five-figure errors, and no luxury tax return had been reviewed since registration.
What we did: We rebuilt the calculation as the lesser of 10% of the full value and 20% of the value above $250,000, corrected the HST stacking so tax applied to the luxury-tax-inclusive consideration, and filed adjusted luxury tax and HST returns for every affected period.
The result:
- $14,000 error caught on a single $420,000 hull
- Lesser-of calculation applied to every subject vessel
- Adjusted returns filed before CRA made contact
Kingston-Area Marine Dealer — Exempt Commission & Inventory
The problem: A Kingston-area marine dealer was claiming 100% of its input tax credits while earning substantial exempt finance and insurance commission through the finance office, and the hulls sitting on the lot had been set up as capital assets and depreciated year after year. Two filed years were exposed on both fronts, and a CRA questionnaire had already arrived asking about commission income.
What we did: We built a fair and reasonable input tax credit apportionment method supported by revenue ratios, returned the stock to section 10 inventory at the lower of cost and fair market value, reversed the capital cost allowance claimed on units held for sale, and refiled.
The result:
- $250,000 of exempt commission properly apportioned
- Depreciation reversed on hulls held for sale
- Live assessment exposure closed on both issues
Ottawa Boat Sales & Storage — Deferral, Consignment & Floor Plan
The problem: An Ottawa boat sales and storage operation booked a full winter of prepaid storage as revenue the month it was invoiced, reported consignment deliveries net of the owner payout so recorded sales were badly understated, and had never reconciled its floor plan payable to the units physically on the lot. Interim statements were meaningless and the lender was asking questions.
What we did: We set deferred revenue with a paragraph 20(1)(m) reserve for the unexpired season, grossed up consignment and brokerage deliveries under section 177 of the Excise Tax Act, and reconciled the floor plan payable to the units physically on the lot every month in QuickBooks.
The result:
- $180,000 of prepaid storage deferred to the covered season
- Consignment deliveries reported gross, not netted
- Clean, audit-ready books reconciled to the lender
Our clear, efficient process ensures every step is transparent, building trust and long-term client relationships.
Kickoff (Document Request)
Collect prior T2 returns, unit inventory and floor plan statements, luxury tax filings, deal jackets and trade-in records, HST returns, storage and slip billings, lease and equipment lists, payroll and commission records, and bank statements.
First 30 Days (Cleanup & Setup)
Set up QuickBooks Online or Xero alongside your dealer management system, build the unit inventory and floor plan reconciliation, set the input tax credit apportionment method, code HST and luxury tax, and configure payroll, commissions and WSIB.
Monthly Close
Monthly reconciliations, receipt capture, gross profit by department, floor plan tied to the units on the lot, HST on taxable sales with apportioned credits, and deferred storage revenue.
Quarterly Planning Review
Salary and dividend mix, luxury tax and HST review, storage reserve and inventory write-downs, passive-income position, and yard, lift and service-truck purchase timing.
Year-End Close & T2 Filing
Reconciled unit count, trial balance, financial statements with section 10 inventory and deferred storage revenue, T2 with GIFI, and CRA preparation.
Get Your Boat Dealership Taxes Done Right Today
Affordable Pricing for Boat Dealers
We believe in clear, upfront pricing so you know exactly what to expect. All fees include HST.
- Tax Preparation (Corporation) — From $400
- Tax Return Filing (Corporation) — From $400
- Tax Compliance Audit — FREE CRA audit support for our clients
- Tax Strategy — FREE for our clients
- Accounting Base Plan — From $100 per month
- Bookkeeping Management — Free for our Accounting clients
- Financial Reporting — Free for our Accounting clients
- Business Formation — Flat $35
- Incorporation Process — Flat $35
- Entity Setup Assistance — Flat $35
- Full-Service Payroll — From $125 per month
Payment is by Interac e-Transfer to info@gondaliyacpa.ca only. Security question: Not Applicable, as auto-deposit is enabled.
Meet Your Lead Boat Dealer Accountant
Meet your lead boat dealer accountant. As your marine and corporate tax adviser, you deal with the same two people every year.
What Our Clients Say
1300+ five-star reviews from boat dealership and marine business owners across Ontario and Canada.
Serving Boat Dealers Across Ontario
Our CPA team provides specialized accounting and tax solutions for boat dealerships throughout Ontario. We understand how section 10 unit inventory, floor plan interest, the luxury tax on vessels over $250,000, trade-in and consignment HST, exempt finance and insurance commission and seasonal storage revenue actually flow through a dealership, what CRA looks at on a marine file, and how to put your stock, income and assets in the right place.
Toronto (ON)
55 Queen St E Ste 1205, Toronto, ON M5C 1R6, Canada
+1 (647) 212-9559
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Mississauga (ON)
5373 Bullrush Dr, Mississauga, ON, Canada
+1 (647) 212-9559
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Brampton (ON)
4 Starhill Crescent, Brampton, ON L6R 2P9, Canada
+1 (647) 212-9559
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Scarborough (ON)
24 Clementine Square, Scarborough, ON M1G 2V7, Canada
+1 (647) 212-9559
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Vaughan (ON)
19 Cabinet Crescent, Woodbridge, ON L4L 6H9, Canada
+1 (647) 212-9559
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Oshawa (ON)
210 Durham St, Oshawa, ON L1J 5R3, Canada
+1 (647) 212-9559
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Ottawa (ON)
2090 Neepawa Ave a314, Ottawa, ON K2A 3L6, Canada
+1 (647) 212-9559
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Etobicoke (ON)
60 Stevenson Rd #1601, Etobicoke, ON M9V 2B4, Canada
+1 (647) 212-9559
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Hamilton (ON)
70 Starling Dr, Hamilton, ON L9A 0C5, Canada
+1 (647) 212-9559
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Guelph (ON)
1155 Gordon St, Guelph, ON N1L 1S8, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Windsor (ON)
4387 Guppy Ct, Windsor, ON N9G 2N8, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
North York (ON)
150 Graydon Hall Dr #912, North York, ON M3A 3B2, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Boat Dealer Accounting & Tax FAQs
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Boat Dealer Accounting & Tax Done Right.
T2 filing, hulls carried as section 10 inventory with floor plan interest and a reconciled payable, the federal luxury tax on subject vessels over $250,000 with HST charged on the luxury-tax-inclusive amount, trade-ins under subsection 153(4), brokerage and consignment under section 177, apportioned input tax credits against exempt finance and insurance commission, prepaid storage deferred under a paragraph 20(1)(m) reserve, and technician and sales payroll with WSIB and EHT under one roof. AFFORDABLE flat fees, no hourly billing. Licensed CPA Ontario. 1300+ five-star reviews. 30-Day Money-Back Guarantee.