Real Estate Agents, Realtors & Brokerages in Toronto & across Ontario

Specialized accounting, bookkeeping, and tax planning for real estate agents.

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AFFORDABLE Tax Accountant for Real Estate Agents, Realtors & Brokerages

We provide cost-effective tax and accounting services tailored specifically for real estate agents, realtors, and brokerages. Our approach is designed to support commission-based income, fluctuating cash flow, and industry-specific deductions—without unnecessary complexity or high fees.

From accurate bookkeeping to proactive tax planning and CRA compliance, our affordable solutions help real estate professionals stay organized, reduce tax liability, and focus on closing deals while we manage the numbers.

Official Partner

Accounting That Understands Real Estate Professionals

We understand the unique financial and tax challenges faced by real estate agents, realtors, and brokerages. From commission-based income to fluctuating cash flow and industry-specific deductions, our accounting solutions are tailored to keep your finances organized and compliant, so you can focus on growing your business.

Commission-Focused Accounting

Track commissions, splits, and transactions accurately for reliable financial reporting.

Expense Management

Organize business expenses, home office costs, and vehicle deductions efficiently.

Proactive Tax Planning

Identify tax-saving opportunities year-round to minimize liability and maximize deductions.

Audit-Ready Compliance

Ensure CRA compliance and maintain clean records for peace of mind and audit preparedness.

Stay Compliant with Real Estate Tax Regulations

Timely Tax Filing

Meet all CRA deadlines for T1, T2, and GST/HST returns without stress.

Organized Record-Keeping

Maintain accurate records of commissions, expenses, and client transactions for audits.

Deduction & Credit Compliance

Apply eligible deductions and credits correctly while staying within CRA rules.

Why Real Estate Agents Work with Gondaliya CPA

Industry Expertise

Decades of experience working with real estate agents, brokerages, and property managers.

Maximize Earnings

Strategic tax planning to reduce liabilities and optimize commission-based income.

Save Time

Streamlined bookkeeping, payroll, and reporting so you can focus on selling properties.

Peace of Mind

Accurate records and compliance checks to avoid penalties and CRA issues.

Fully Licensed CPA Ontario

700+ ★★★★★ Google Reviews

30-Day Money-Back Guarantee

60-Day Fees-Matching Policy

ACTIVELY ACCEPTING Corporate Clients

Will cover personal tax filing for Directors & Families

Convenient Availability

Weekend and evening support until 9 PM

Always Within Reach

Just a call away when you need us

Accounting Services for Real Estate Agents, Realtors & Brokerages

Corporate Tax Filing for Real Estate

Professional Corporate tax preparation and return filing, ensuring accuracy and CRA compliance.

Accounting & Bookkeeping for Real Estate

Reliable bookkeeping and accounting with financial statements, records, and reporting.

Corporate Tax Planning for Real Estate

Smart Corporate tax planning to optimize savings, reduce liabilities, and maintain compliance.

Catch-Up Corporate Tax Filing for Real Estate

File overdue corporate tax returns, clean up missing records, and get your business back into CRA compliance with accurate, stress-free catch-up filing support.

GST/HST Filing for Real Estate

Affordable GST/HST filing to help your business stay compliant, maximize input tax credits, and avoid CRA penalties.

Corporate Tax Cleanup for Real Estate

Resolve past corporate tax issues and bring your filings fully compliant and up to date.

CRA Audit Resolution Services for Real Estate

Expert support to handle Canada Revenue Agency audits, disputes, and negotiations with confidence.

CPA Compilation Report (Notice to Reader) for Real Estate

Deliver clear CPA Compilation Reports (Notice to Reader) for reliable financial insights.

Incorporation Services for Real Estate

Incorporation services in Toronto for smooth business formation, entity setup, and start-up support.

Accounting Services Tailored for Real Estate Agents, Realtors & Brokerages

Real, practitioner-level CPA expertise for real estate agents, realtors, brokers of record, and brokerage owners across Ontario — built for how commission-based professionals track irregular income, claim vehicle and marketing expenses, manage RECO compliance costs, and structure personal real estate corporations.

Corporate Tax Filing for Real Estate Agents & Brokerages

We file your real estate agent corporation T2 return with commission income reported as gross revenue and the brokerage commission split or desk fee deducted as a business expense under the correct GIFI code — CRA requires the full commission to be reported, not just the net amount after the brokerage takes its share.
We classify your realtor vehicle under CCA Class 10 at 30% or Class 10.1 for passenger vehicles costing more than the prescribed limit on Schedule 8 of your real estate corporation T2 return — ITA section 67.3 caps the deductible lease payment, and we ensure your vehicle deduction stays within CRA limits.
We deduct RECO registration fees, OREA membership dues, CREA fees, E&O insurance premiums, and continuing education costs on your real estate agent corporation T2 return under the correct GIFI codes — these regulatory expenses are fully deductible but must be classified separately from marketing costs.
We deduct staging expenses, professional photography, MLS listing fees, signage, and digital advertising costs on your realtor corporation T2 return as current business expenses — CRA allows full deduction in the year incurred because these costs relate directly to earning commission income on specific transactions.
We reconcile commission statements from your brokerage against your real estate corporation bank deposits before filing the T2 return, ensuring every commission payment, referral fee, and co-brokerage split is matched with no unexplained deposits that trigger a CRA unreported income query.

Accounting & Bookkeeping for Real Estate Agents & Brokerages

We reconcile brokerage commission statements against your bank deposits monthly so every commission payment, referral fee, and co-brokerage split is matched in your real estate agent chart of accounts — no unexplained deposits or missing income at month-end close.
We track vehicle expenses in your realtor bookkeeping using the CRA mileage log method, recording business kilometres driven for property showings, client meetings, and listing appointments separately from personal use so your year-end automobile deduction is fully supported with documentation.
We separate marketing expenses — digital ads, print materials, staging costs, professional photography — from RECO regulatory fees and OREA dues in your real estate agent bookkeeping so your financial statements show actual client acquisition cost versus mandatory licensing overhead.
We track desk fees, transaction fees, and brokerage splits as separate expense categories in your realtor bookkeeping so your financial statements show the true net commission per deal — many real estate agents record only net deposits, hiding their actual gross commission and brokerage cost structure.
We prepare monthly income reports for your real estate corporation showing commission income by transaction, total marketing spend, vehicle costs, and net profit so you see which deals generate actual margin and which months require cash reserve planning between closings.

Corporate Tax Planning for Real Estate Agents & Brokerages

We structure your real estate agent corporation owner compensation as a salary-dividend split that keeps active business income under the $500,000 Small Business Deduction threshold, saving your realtor corporation up to 14.3% in combined corporate tax versus the general rate.
We set up non-voting shares in your real estate corporation so your spouse or adult children receive dividends, spreading income across lower personal tax brackets — a family income-splitting strategy that reduces combined household tax on commission profits and gives each family member access to the $1.25M+ Lifetime Capital Gains Exemption on a future brokerage sale.
We advise Ontario realtors on whether to incorporate as a personal real estate corporation (PREC) under RECO regulations — the PREC allows commission income to flow through the corporation for tax deferral, but the structure has specific RECO restrictions on permitted share classes and corporate activities that must be followed.
We plan year-end marketing and staging prepayments before your fiscal year-end so the expenses are deductible in the current tax year — a cash-method election is not available for corporations, so we ensure the expense is properly accrued and documented for your realtor corporation's tax planning cycle.
We calculate quarterly instalment payments for your real estate corporation based on the prior-year method or current-year estimate, whichever is lower, so your realtor business does not overpay CRA instalments during months between deal closings when no commission income is received.

Catch-Up Corporate Tax Filing for Real Estate Agents & Brokerages

If your real estate agent corporation has two or more years of unfiled T2 returns, CRA can revoke your business number and freeze your HST account — we file all outstanding realtor corporate returns and negotiate penalty relief before enforcement action begins.
We reconstruct realtor commission income from brokerage statements, trade record sheets, and bank deposit records when bookkeeping was never completed, building accurate financial statements for each unfiled year so your catch-up T2 returns claim every legitimate marketing, vehicle, and desk fee deduction.
CRA charges a late-filing penalty of 5% plus 1% per month up to 12 months on each unfiled real estate corporation T2 return — we apply for penalty relief under Taxpayer Relief provisions using Form RC4288 when market slowdowns or personal circumstances caused the filing delay.
We identify vehicle purchases, office equipment, and signage costs from prior unfiled years and add them to the correct CCA class on each catch-up T2 return so your realtor corporation recovers depreciation deductions that would otherwise be permanently lost for those tax years.
If CRA issued arbitrary assessments because your real estate corporation never filed, the estimated commission income is almost always inflated — we replace those numbers with actual brokerage commission statements, trade records, and bank deposits, reducing the outstanding balance significantly.

GST/HST Filing for Real Estate Agents & Brokerages

Real estate commission income is a taxable supply subject to HST at 13% in Ontario — your brokerage adds HST to the commission on your trade record sheet, and we ensure your realtor corporation GST/HST return reports the correct HST collected on gross commission, not just the net amount after the brokerage split.
We claim ITCs on all HST paid on vehicle lease payments, fuel, marketing costs, staging expenses, MLS fees, professional photography, signage, and office rent on your real estate agent GST/HST return — many realtors miss ITCs on client gifts, professional development courses, and E&O insurance that are recoverable.
Referral fees paid to other real estate agents are HST-taxable — when your realtor corporation pays a referral fee, the referring agent charges you HST on their invoice, and we claim the ITC on your GST/HST return so the referral cost is reduced by the HST recovered.
We reconcile HST collected on all commission income against HST remitted to CRA each filing period so your realtor corporation GST/HST return balances exactly — discrepancies between brokerage-reported commissions and your filed HST amounts are a primary CRA audit trigger for real estate professionals.
Real estate agents earning over $30,000 in commission income in any rolling four quarters must register for HST — we monitor your realtor revenue against this threshold and handle registration before CRA retroactively assesses uncollected HST on past commission earnings.

Corporate Tax Cleanup for Real Estate Agents & Brokerages

We correct vehicle CCA classification errors where your previous accountant placed a luxury vehicle under Class 10 instead of Class 10.1 on prior realtor T2 returns — Class 10.1 limits the depreciable amount to the CRA prescribed ceiling, and filing amended returns prevents CRA from reassessing excess depreciation claimed.
We fix commission reporting errors where your previous accountant recorded only net commission after the brokerage split instead of gross commission with the split as a separate expense — filing amended real estate corporation T2 returns so revenue and expenses are reported accurately under the correct GIFI codes.
We rebuild your realtor corporation retained earnings schedule from inception by reconciling every prior-year T2 return, dividends declared, and shareholder loan transactions — eliminating balance sheet discrepancies that CRA flags during real estate agent corporate reviews.
We correct home office deduction errors where your previous accountant claimed 100% of household expenses instead of the proportional dedicated workspace percentage — filing amended realtor T2 returns under ITA section 18(12) before CRA disallows the entire home office deduction on your real estate corporation.
We correct shareholder loan balances where the realtor withdrew commission deposits for personal use without recording them as salary, dividends, or shareholder loans, applying ITA section 15(2) rules to determine the correct tax treatment before CRA reassesses your real estate corporation.

CRA Audit Resolution for Real Estate Agents & Brokerages

CRA frequently audits real estate agents on unreported commission income — we reconcile every bank deposit against brokerage commission statements, trade record sheets, and referral fee receipts during a CRA audit to prove all realtor income was reported on your corporation's T2 return.
CRA auditors challenge vehicle expense deductions for real estate agents — we present your CRA mileage log with property addresses visited, kilometres driven, and business purpose for each trip to defend the business-use percentage claimed on your realtor corporation T2 return.
We defend marketing and client entertainment deductions during a CRA audit on your real estate corporation by presenting advertising invoices, staging receipts, and event records — CRA limits meal and entertainment deductions to 50% under ITA section 67.1, and we ensure your realtor return applied the correct percentage.
CRA auditors challenge the personal real estate corporation (PREC) structure to verify commission income flows correctly through the corporation and complies with RECO permitted activities — we present your PREC registration, commission assignment documentation, and brokerage agreement to defend the corporate structure.
If CRA reassesses your real estate corporation after an audit, we file a Notice of Objection using Form T400A within 90 days and prepare a technical position paper citing ITA sections that support your realtor deductions, preventing the reassessed amount from becoming final.

CPA Compilation Report (Notice to Reader) for Real Estate Agents & Brokerages

We prepare CSRS 4200 compilation engagement financial statements for your realtor corporation that banks, mortgage lenders, and RECO require — a CPA-compiled Notice to Reader carries more weight than internally prepared statements and is often mandatory for mortgage qualification on commission-based income, business credit applications, and PREC compliance documentation.
Your real estate agent corporation Notice to Reader includes a compiled balance sheet showing commission receivables, vehicle at net book value under the correct CCA class, shareholder loan balances, and retained earnings — giving mortgage lenders an accurate snapshot of your realtor corporation's financial position prepared by a licensed CPA.
We compile your realtor corporation income statement with gross commission income, brokerage splits, referral fees paid, vehicle expenses, marketing and staging costs, and RECO regulatory fees classified under the correct GIFI codes so the Notice to Reader financial statements match your T2 return exactly and satisfy bank or mortgage lender requirements.
We prepare the CPA compilation report with the required CSRS 4200 communication disclosing that no audit or review has been performed, along with notes to the financial statements covering commission revenue recognition on closing date, vehicle expense business-use percentage, related-party transactions, and shareholder loan terms — the standard disclosures mortgage lenders and banks expect on a real estate agent corporation Notice to Reader.
We deliver your realtor corporation Notice to Reader within 30 days of receiving your year-end trial balance — many real estate agents lose mortgage approvals or fail business credit applications because their previous accountant did not produce CPA-compiled financial statements on time for the lender's deadline, and banks require formal statements to verify irregular commission-based income.

Incorporation Services for Real Estate Agents & Brokerages

We incorporate your real estate business as a personal real estate corporation (PREC) under RECO regulations, register your CRA business number, and open corporate tax, GST/HST, and payroll accounts — all completed so your realtor corporation can receive commissions, collect HST, and operate through the corporation from day one.
We advise realtors on the PREC share structure permitted by RECO — the registered real estate agent must own all voting shares, and only specific family members can hold non-voting shares. We set up the correct share classes at incorporation so your realtor corporation complies with RECO restrictions from the start.
We set up your newly incorporated realtor corporation's chart of accounts with separate revenue categories for listing commissions, buyer commissions, referral fee income, and co-brokerage splits — ensuring your bookkeeping structure matches real estate commission reporting from the first transaction.
We help brokerage owners incorporate a separate holding company above the PREC to receive intercorporate dividends tax-free under ITA section 112(1), separating accumulated commission profits and investment assets from the operating realtor corporation's E&O liability and client claims.
We prepare your realtor corporation's first-year corporate minute book with articles of incorporation, director resolutions, share certificates, and RECO PREC registration documentation — brokerages, banks, and CRA require these documents for commission assignment agreements, corporate bank account setup, and your first T2 filing.

Free Resource: 50 Deductible Expenses for Real Estate Agents, Realtors & Brokerages

Comprehensive checklist of tax-deductible costs unique to Real Estate Agents, Realtors & Brokerages. PDF delivered instantly.

Free CPA Consultation for Real Estate Agents & Brokerages

Case Studies

Toronto Real Estate Agent Optimizes Tax Deductions

Problem: A top-performing agent struggled to track commissions, home office, and vehicle expenses accurately, missing out on significant deductions.
Solution: Gondaliya CPA implemented a tailored bookkeeping system, categorized all business expenses, and applied tax-saving strategies.
Results: The agent reduced taxable income by $12,000 and avoided penalties, while gaining clear monthly financial reports.

Mississauga Brokerage Streamlines Payroll & GST Compliance

Problem: A growing brokerage faced issues managing payroll for multiple agents and filing GST/HST on time, risking CRA penalties.
Solution: Gondaliya CPA integrated payroll services with bookkeeping and set up automated GST/HST filing reminders.
Results: Payroll errors were eliminated, GST/HST filings were on time, and the brokerage saved 10+ hours monthly on administrative tasks.

Real Estate Investor Protects Income & Reduces Audit Risk

Problem: A real estate investor owning multiple properties lacked proper financial organization, increasing audit risk and missed deductions.
Solution: Gondaliya CPA reviewed past filings, implemented a record-keeping system, and optimized allowable deductions.
Results: Audit readiness improved, tax liability was reduced by $18,000, and investor confidence in financial reporting increased.

OUR SIMPLE PROCESS

How Our Real Estate Accounting Process Works

We make managing your finances simple and stress-free. Our transparent process keeps you informed and investor-ready at every stage.

Here’s a simplified process approach:

Step 1

Simple Onboarding & Review

We quickly assess your income, expenses, and structure to set up efficient, compliant accounting.

Step 2

Commission-Focused Bookkeeping

Income, splits, expenses, and GST/HST are tracked accurately with no guesswork.

Step 3

Proactive Tax Planning

We identify deductions and tax-saving opportunities throughout the year—not just at filing time.

Step 4

Ongoing Support Without High Fees

Clear advice, timely responses, and affordable pricing designed for real estate professionals.

Get personalized advice for your taxes.

Transparent Pricing

Affordable Pricing for Real Estate Accounting

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 / 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 Real Estate Tax Accountants

Sharad Gondaliya, CPA

Bio Principal 647-212-9559 sharad@gondaliyacpa.ca

Vandana Goel, CPA

Bio Accounting Specialist 647-250-0242 vandana@gondaliyacpa.ca

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Real estate professionals can deduct business-related expenses such as advertising, office rent, vehicle costs, and professional memberships. Accurate record-keeping ensures all deductions are claimed correctly. Gondaliya CPA helps identify eligible expenses to maximize tax savings and reduce audit risk.

How should I report commissions and bonuses as a real estate agent?

Commissions and bonuses are considered business income and must be accurately reported on your T2125 or corporate filings. Proper accounting ensures you pay the correct amount of tax while avoiding penalties. We set up systems to track income efficiently throughout the year.

Do I need to register for GST/HST as a real estate agent?

GST/HST registration is required if your taxable supplies exceed $30,000 annually. Registered agents must charge, collect, and remit GST/HST correctly. Gondaliya CPA guides you through registration, compliance, and reporting to ensure you stay fully compliant.

How can I reduce my personal tax liability while operating as a real estate professional?

Strategies like income splitting, corporate incorporation, and claiming eligible expenses can reduce personal tax liability. Each situation is unique, so professional guidance is essential. We provide tailored planning to optimize your tax position while remaining CRA-compliant.

What records should I keep for CRA audits?

Keep all receipts, invoices, bank statements, commission reports, and expense documentation for a minimum of six years. Accurate and organized records reduce audit stress and support your claims. Gondaliya CPA implements streamlined systems to maintain audit-ready records.

Should I operate as a sole proprietor or incorporate my real estate business?

Sole proprietorships are simpler, but corporations can offer tax deferral and liability protection. The decision depends on income level, long-term goals, and risk tolerance. We analyze your situation to recommend the most tax-efficient business structure.

How often should I review my financial statements?

Real estate professionals should review financial statements monthly or quarterly. Regular reviews help track profits, monitor cash flow, and identify tax-saving opportunities. Gondaliya CPA provides insights to make informed business decisions based on these statements.

Can I claim vehicle expenses for showings and client meetings?

Yes, vehicle expenses related to business use, including fuel, maintenance, and insurance, can be claimed. Accurate mileage logs and receipts are required for CRA compliance. We guide agents in tracking and maximizing these deductions efficiently.

What tax credits are available for real estate investors or brokerages?

Depending on your business type, you may be eligible for SR&ED credits, capital cost allowance, or investment tax credits. Claiming these requires precise accounting and proper documentation. We help identify applicable credits to reduce overall tax liability.

How do I get started with Gondaliya CPA for my real estate business?

Schedule a consultation to discuss your real estate business needs. We’ll create a tailored plan including bookkeeping, payroll, tax planning, financial reporting, and incorporation services.