Accountant for Leasing Companies in Ontario and Across Canada
Keeping leasing companies on top of their numbers — lease-income and CCA accounting, corporate tax, HST and financial statements, so your assets earn and your filings stay clean. Whether you lease equipment, vehicles and fleets, machinery or commercial property, a Registered CPA handles the depreciation, deferred revenue and active-versus-passive rules that make or break a lessor’s tax bill. Everything is handled under one roof at clear, AFFORDABLE flat fees — no hourly billing and no surprises.
AFFORDABLE Accounting & Tax Services for Leasing Companies
A leasing company lives or dies on how its assets and income are accounted for. Get the Capital Cost Allowance, the operating-versus-finance-lease treatment, the HST on commercial versus residential leases, or the active-versus-passive question wrong, and you can overpay tax badly or lose the small business rate entirely. Generic bookkeeping rarely handles a lessor’s balance sheet, and most owners are too busy financing and placing assets to notice.
We do it all under one roof: bookkeeping and lease accounting, corporate tax (T2), HST, and year-round tax planning — delivered by a Registered CPA who understands leasing. We track each asset and lease, optimize your CCA, keep your deferred revenue and deposits right, and structure the company so its income is taxed as favourably as the rules allow. We serve equipment, vehicle and property leasing companies across Ontario and Canada. AFFORDABLE flat fees. No hourly billing.
Our Official Partners
Accounting & Tax Service That Understands Leasing
From equipment and fleet leasing to commercial property, we know how lessors actually earn and how the CRA taxes them. One team keeps your assets, income and filings accurate, and your tax as low as the rules allow, with clear fixed fees and no surprises.
Stay Compliant and Minimize Your Leasing Company Tax
Lessors face rules other businesses do not — specified leasing property, the active-versus-passive test and HST on mixed leases all have to be right. Compliance and tax savings go hand in hand, and we keep every obligation on schedule while applying every deduction available to your leasing company.
Accounting & Tax Experts for Leasing Companies
- AFFORDABLE + Fully Registered CPA Firm
- Leasing & Asset-Finance Specialist
- Lease Accounting, CCA & Corporate Tax Expert
- Bookkeeping, tax filing and financial statements
- Certified CPA
- 1300+ 5-stars Google reviews
- 30-Day Money-Back Guarantee
- 60-Day Fees Matching Policy
Why Leasing Companies Choose Our Tax and Accounting Service
Leasing Expertise
We work with equipment, vehicle and property lessors. We know CCA on leased assets, specified leasing property, operating vs finance leases and the active-versus-passive rules that matter most to leasing companies.
Full-Service Firm
Bookkeeping, corporate tax, HST, financial statements and advisory all live under one roof, on one system. You get a single point of contact and joined-up advice, so nothing falls through the cracks.
Fixed-Fee, AFFORDABLE Pricing
Every service is an AFFORDABLE flat fee, quoted before we start. No hourly billing and no surprises for your leasing company, all backed by our 30-Day Money-Back Guarantee and 60-Day Fees-Matching Policy.
Trusted by 1300+ Clients
We are one of Canada’s most AFFORDABLE CPA firms, trusted by more than 1,300 business owners. Clients stay because we keep their books clean, filings on time and corporate tax as low as possible.
Google Reviews
Leasing & Asset Clients
Leasing Company Tax and Accounting Services in Ontario
Corporate Tax Filing for Leasing Companies
T2 corporate returns with CCA on leased assets, specified-leasing-property limits, recapture and active-vs-passive handled.
Accounting & Bookkeeping for Leasing Companies
Monthly bookkeeping that tracks each asset and lease, operating vs finance treatment, deferred revenue and security deposits.
Corporate Tax Planning for Leasing Companies
Active-vs-passive, CCA timing, refundable tax and structuring so your leasing income is taxed as favourably as possible.
Catch-Up Corporate Tax Filing for Leasing Companies
File overdue T2 and HST returns, rebuild asset and lease schedules, and restore CRA compliance.
GST/HST Filing for Leasing Companies
Correct HST on commercial versus residential leases, with input tax credits on taxable asset purchases.
Corporate Tax Cleanup for Leasing Companies
Correct CCA, deposit and commercial-vs-residential HST errors by amended return.
CRA Audit Resolution Services for Leasing Companies
Support with CRA reviews on CCA, HST and the active-versus-passive question, handled for you.
CPA Compilation Report (Notice to Reader) for Leasing Companies
CSRS 4200 Notice to Reader statements for banks and lenders financing your leased assets.
Incorporation Services for Leasing Companies
Incorporation services with opco/holdco and single-asset structures to hold and finance your assets tax-efficiently.
Catch-Up Bookkeeping Services for Leasing Companies
Rebuild lease-by-lease revenue, the asset register and CCA schedules for the missing years, then file the overdue T2 and HST returns.
US Corporation & LLC Tax Filing for Leasing Companies
Form 1120, treaty-based 1120-F and Form 5472 filings for lessors with US assets, US lessees or a US owner.
Voluntary Disclosure Program for Leasing Companies
RC199 applications to correct unreported lease income or unremitted HST before the CRA contacts you first.
Accounting & Tax Services Tailored for Leasing Companies
Each service, explained in full, so you know exactly what is included and how it keeps your leasing company compliant and your tax as low as the rules allow.
- We claim Capital Cost Allowance on your leased assets in the correct classes, and apply the specified-leasing-property rules where they cap CCA to the lease’s principal-recovery amount, so your return is both optimized and compliant.
- We calculate recapture or a terminal loss when you sell or a lessee buys out an asset, so the tax on disposals is reported correctly instead of surprising you at year-end.
- We assess whether your leasing income is active business income or income from a specified investment business, because that single determination decides whether you get the low small business rate.
- We deduct the interest on the financing behind your assets, plus insurance, maintenance and administration, against your lease income to lower taxable profit.
- We apply loss carryforwards, the small business deduction where available, and every eligible credit so your corporation pays the lowest legal tax rate.
- We set up your books in QuickBooks or Xero to track each asset and each lease separately, so you always know the revenue, cost and margin on every unit in your portfolio.
- We classify each contract as an operating lease or a finance/capital lease and account for it correctly under ASPE (or IFRS 16 where it applies), so your statements reflect the true economics.
- We record deferred revenue and prepaid rent over the lease term, and record security and damage deposits as liabilities rather than income, so your monthly profit is never overstated.
- We maintain your asset register with cost, accumulated depreciation, net book value and residual value, and for commercial lessors we reconcile common-area maintenance (CAM) recoveries to actual costs.
- We reconcile all accounts monthly and deliver clear reports, so your year-end T2 and financial statements are built on reliable data.
- We assess the active-versus-passive question in depth, because rental and leasing income can be treated as a specified investment business — taxed at a high rate with refundable dividend tax — unless the company is genuinely active or has more than five full-time employees.
- We plan the timing of asset purchases and CCA claims around your income, using accelerated first-year depreciation where it helps and preserving CCA where a low-income year makes deferral better.
- We manage refundable dividend tax on hand (RDTOH) where your income is passive, so the refundable portion is recovered when dividends are paid rather than left stranded.
- We plan the salary-dividend mix for owner-managers and coordinate it with the corporation’s tax position for the lowest combined result.
- We advise on structuring — operating company, holding company or separate asset entities — to balance tax efficiency, financing and risk across your portfolio.
- If your leasing company has unfiled T2 returns, we file all outstanding years and negotiate penalty relief before the CRA issues arbitrary assessments.
- We rebuild your asset register and lease schedules from purchase invoices, financing agreements and bank records when the books fell behind.
- We correct CCA that was over- or under-claimed, or where the specified-leasing-property limit was ignored, recovering or fixing depreciation across prior years.
- We reconcile lease income, deposits and deferred revenue that were recorded inconsistently, so your restated statements are accurate.
- We bring your HST filings current, correcting the commercial-versus-residential treatment where it was applied incorrectly.
- We charge and remit HST correctly on your commercial leases, which are taxable, while treating residential rents as exempt supplies, and we handle mixed-use properties where both apply.
- We claim input tax credits on the HST you pay when you purchase or finance taxable assets, which for an asset-heavy lessor recovers significant tax.
- We apply the self-supply and change-of-use rules that catch property lessors when a building moves between commercial and residential use.
- We compare the Quick Method against the regular method where your mix of supplies allows a choice, selecting the option that leaves the most cash in the company.
- We file your GST/HST returns on your monthly, quarterly or annual schedule, on time, so you avoid CRA interest and penalties.
- We correct CCA that was misclassified or claimed without applying the specified-leasing-property limit, recovering or fixing depreciation through amended returns.
- We reclassify security and damage deposits that were booked as income back to liabilities, and restate the revenue that was overstated as a result.
- We fix contracts that were treated as the wrong type of lease — operating instead of finance, or vice versa — so revenue and the balance sheet reflect the real economics.
- We correct HST that was applied incorrectly between taxable commercial and exempt residential leases, and recover input tax credits that were missed.
- We recalculate recapture and terminal loss on prior-year disposals that were reported incorrectly, so your amended returns are accurate.
- When the CRA reviews your CCA, we demonstrate the correct classes and the specified-leasing-property calculations with your asset register and lease agreements.
- Where the CRA questions the active-versus-passive character of your income, we present the facts — employees, activity and services — that support the position you filed.
- We respond to HST reviews by showing the correct split between taxable commercial leases, exempt residential rents and the input tax credits claimed.
- We reconcile deferred revenue, deposits and lease income to your contracts so a revenue-recognition review is resolved cleanly.
- We submit RC4288 Taxpayer Relief requests where penalties arose from an honest error, documenting the circumstances to maximize penalty cancellation.
- We prepare CSRS 4200 compilation (Notice to Reader) financial statements that banks and asset-finance lenders require to fund your leased assets and lines of credit.
- Your statements show leased assets at net book value, the financing behind them, deferred revenue, deposits and retained earnings, giving lenders an accurate picture of your portfolio.
- We classify lease revenue and costs under the correct GIFI codes so the Notice to Reader matches your T2 return exactly.
- We include the required CSRS 4200 disclosures plus notes on revenue recognition, lease terms and related-party transactions, so the statements withstand lender review.
- We deliver your statements promptly after year-end, so a financing or refinancing on your assets is never held up.
- We incorporate your leasing company — Ontario or federal — with the NUANS name search, articles and CRA registrations, so you can start acquiring and leasing assets quickly.
- We set up an operating-company and holding-company structure, or separate single-asset entities, to balance tax efficiency, creditor protection and financing across your portfolio.
- We register your Business Number, GST/HST and any payroll accounts so your company is compliant from day one.
- For owners moving assets into a new company, we coordinate the section 85 rollover so the transfer defers gains and recapture rather than triggering tax.
- We design a share structure that supports income splitting and a future sale, and set up your opening books and minute book.
- We rebuild your revenue contract by contract, posting each operating lease as rental revenue and each finance or capital lease as a receivable with interest income, so the catch-up books match how the contracts actually work.
- We reconstruct the asset register behind the portfolio from purchase invoices and lease agreements, restoring cost, accumulated depreciation, net book value and residual value for every unit you have out on lease.
- We rebuild the HST back-work lease by lease, charging 13% on taxable commercial and equipment leases, treating long-term residential rents as exempt supplies, and claiming the input tax credits missed on taxable asset purchases.
- We rebuild the CCA schedules by class across the missing years and apply the specified-leasing-property limit where it caps the claim to the principal recovered through the lease payments, so nothing is over-claimed.
- We split the interest on your funding facilities from principal, bring payroll remittances and T4 slips current, and file the back-year T2 returns from clean books instead of leaving a $50,000 arbitrary CRA assessment standing.
- We prepare Form 1120 for the US corporation in your group, reporting rental income from assets leased to American customers, MACRS depreciation on that equipment, and the interest on the debt financing it.
- Where your Canadian lessor has no US permanent establishment, we file a protective Form 1120-F with a treaty-based return position, so US-source lease receipts are not taxed twice and the position is documented.
- We file Form 5472 for every reportable transaction between your US entity and its foreign owner — intercompany asset transfers, lease receivables and loans — because each missed form carries a $25,000 penalty.
- A US LLC is fiscally transparent south of the border but a corporation to the CRA, and we manage that hybrid mismatch so the US tax paid on your lease profits still supports a Canadian foreign tax credit.
- We handle state nexus where your leased equipment physically sits, withholding on payments from US lessees, and the reporting a US shareholder of your leasing company triggers, so both revenue agencies see the same numbers.
- We prepare the RC199 application with the lease schedules, asset register and corrected HST working papers behind it, so the CRA sees a complete picture of the portfolio rather than a bare admission.
- We test your situation against the five acceptance conditions — voluntary, complete, involving a penalty, at least one year overdue, and accompanied by payment of the estimated tax — before anything is filed.
- We disclose lease revenue that never reached a T2 and HST charged on commercial and equipment leases but never remitted; a lessor holding $150,000 of collected HST is disclosing trust money, not a timing error.
- We correct shareholder-loan balances where buyout proceeds or lease deposits were drawn personally and left outstanding past the deadline, bringing the resulting income inclusions into the disclosure instead of leaving them for an auditor.
- We judge whether your file belongs in the general program, which gives penalty and partial interest relief, or the limited program used for deliberate conduct, and we can hold an anonymous pre-disclosure discussion first.
Leasing Company Tax & Compliance Check
Six quick questions on your leasing company’s assets, income and tax setup. No fee shown.
1. Do you lease out equipment, vehicles or property that your company owns?
2. Do you claim CCA (depreciation) on the assets you lease out?
3. Do you lease any residential property (HST-exempt)?
4. Do you hold security deposits or collect prepaid rent?
5. Does your company have fewer than five full-time employees?
6. Do you hold multiple assets or properties in one company?
Free CPA Consultation for Leasing Companies
Case Studies: Leasing Company Accounting & Tax
Toronto Equipment Leasing Co – CCA & Disposals
Problem: An equipment leasing company was claiming CCA on its whole fleet in one pool without applying the specified-leasing-property limits, and recording asset buyouts straight to income. Its returns were both non-compliant and overstating tax in some years while understating it in others, and disposals were creating unexpected recapture.
Solution: We rebuilt the asset register by class, applied the specified-leasing-property CCA calculations correctly, and re-worked each disposal for recapture and terminal loss. We then set up a clean lease and asset schedule going forward.
Results:
- CCA claimed correctly within the leasing-property rules
- Disposals reported with proper recapture treatment
- Prior-year errors corrected and refiled
- Clean asset schedule for lenders and the CRA
Mississauga Commercial Landlord – HST & Deposits
Problem: A company leasing commercial units and a few residential apartments was charging HST inconsistently, booking security deposits as income, and had never reconciled its CAM recoveries. It faced HST exposure on the mixed-use property and overstated taxable revenue.
Solution: We corrected the HST split between taxable commercial leases and exempt residential rents, reclassified deposits as liabilities, and reconciled CAM estimates to actual costs. We also recovered input tax credits that had been missed on building expenses.
Results:
- HST correctly charged and remitted on mixed use
- Deposits off the income statement, revenue restated
- CAM recoveries reconciled to actual costs
- Missed input tax credits recovered
Vaughan Vehicle Leasing Co – Active vs Passive
Problem: A growing vehicle and fleet leasing company assumed it was getting the small business rate, but with few employees its income risked being taxed as a specified investment business at a much higher rate. It also needed clean statements to secure fleet financing.
Solution: We analyzed the active-versus-passive question against its staffing and services, structured the operations to support active treatment where legitimate, managed the refundable dividend tax where income remained passive, and prepared Notice to Reader statements.
Results:
- Income tax character clarified and defensible
- Refundable dividend tax recovered on distributions
- NTR statements delivered for fleet financing
- Corporate tax reduced with a compliant structure
We make managing your leasing company finances simple and stress-free. Our transparent process keeps you informed and compliant at every stage.
Free Consultation
We start with a no-obligation consultation to understand your assets, your leases and your financing and goals.
Books & Asset Setup
We set up cloud bookkeeping with an asset register and lease tracking, and get your CRA and HST accounts in order.
Monthly Bookkeeping & Reporting
We reconcile your accounts, track revenue and deposits by lease, and deliver clear reports and financial statements.
Tax & HST Filing
We file your corporate tax and HST on time, with CCA and active-vs-passive handled—keeping you CRA-compliant.
Get Your Leasing Company Tax-Ready Today
Affordable Pricing for Leasing Companies
We believe in clear, upfront pricing so you know exactly what to expect.
- 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
Meet Your Leasing Accounting & Tax Team
What Our Clients Say
1300+ five-star reviews from business owners and asset-based companies across Ontario and Canada.
Supporting Leasing Companies Across Ontario
We serve leasing companies across Ontario and Canada, providing flexible hybrid accounting—whether you prefer in-person guidance, remote support, or a combination of both. We keep your asset register accurate, your filings CRA-compliant and your statements lender-ready, so you can focus on acquiring and placing assets. We proudly support equipment, vehicle and property lessors in Toronto, Mississauga, Brampton, North York, Etobicoke, Scarborough, Vaughan, Markham, Richmond Hill, and Ottawa. No matter where your assets are, we bring the expertise and tools to simplify your lease accounting, HST and tax.
Toronto (ON)
55 Queen St E Ste 1205, Toronto, ON M5C 1R6, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Mississauga (ON)
5373 Bullrush Dr, Mississauga, ON, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Brampton (ON)
4 Starhill Crescent, Brampton, ON L6R 2P9, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Scarborough (ON)
24 Clementine Square, Scarborough, ON M1G 2V7, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Vaughan (ON)
19 Cabinet Crescent, Woodbridge, ON L4L 6H9, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Oshawa (ON)
210 Durham St, Oshawa, ON L1J 5R3, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Ottawa (ON)
2090 Neepawa Ave a314, Ottawa, ON K2A 3L6, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Etobicoke (ON)
60 Stevenson Rd #1601, Etobicoke, ON M9V 2B4, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Hamilton (ON)
70 Starling Dr, Hamilton, ON L9A 0C5, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
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)
Leasing Company Accounting & Tax FAQs
Related Industries We Serve
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- Rental & property income
- Corporate tax & HST
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Small Businesses
- Corporate tax planning
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- Payroll services
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Leasing Company Accounting & Tax Done Right.
Lease accounting, corporate tax, CCA, HST and lender-ready statements under one roof. AFFORDABLE flat fees, no hourly billing. Registered CPA Ontario. 1300+ five-star reviews. 30-Day Money-Back Guarantee.