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Review & Assurance Corporate Tax Services Compilation, Accounting & Bookkeeping Outsourced CFO & Controller Corporate Secretarial Services Cloud Accounting & Software Financial Planning
Personal Services
Personal Tax Services Financial & Retirement Planning Self-employed & Contractor Support Estate & Wealth Transition CRA Representation
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Construction Health Care Real Estate Professional Services Retail Technology Entertainment Manufacturing & Wholesale
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Real Estate Investors & Landlords Realtors & Real Estate Agents Property Management Companies
Real Estate Accounting

Accounting built
for real estate in BC.

From rental income reporting and GST on assignments to realtor commission tracking and property management accounting, Vault CPA delivers the financial clarity your real estate business depends on.

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Construction Accounting
Real Estate
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.

Vault CPA
Get Started
Real estate moves fast. Your accounting should too.

Whether you hold rental properties, sell real estate, or manage a portfolio for clients, we bring the tax expertise and financial precision your investments depend on.

Book a Free Consultation
Question 01
Do I need to charge GST when selling a property?

It depends on the type of property and transaction. New residential construction and substantially renovated properties are generally subject to GST. Resale residential properties are typically exempt. Commercial properties are generally taxable. Assignment sales have their own GST rules. We review each transaction individually to determine your GST obligations.

Question 02
How is rental income taxed in Canada?

Rental income is reported on your personal T1 return or within your corporation's T2 return. You can deduct eligible expenses including 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 can offer tax deferral benefits but also add administrative cost and complexity. For some investors a personal hold with a trust structure 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, you must report any recaptured CCA as fully taxable income and any capital gain at the 50% inclusion rate. If the property was your principal residence for part of the time, a partial exemption may apply. Planning the timing and structure of the sale 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 allows you to eliminate or reduce the capital gain when you sell a home that was your principal residence. For each year the property qualifies, that year's gain is exempt. If you owned the property for ten years and it qualified for eight, eight-tenths of the gain is sheltered. Proper designation and reporting on your T1 is required to claim the exemption.

Question 06
Do realtors need to charge GST on their commissions?

Yes. Real estate commissions are subject to GST. If your annual commission income exceeds $30,000, you must register for GST and charge it on each commission. You can also claim input tax credits on eligible business expenses. Many realtors benefit from incorporating, which allows the corporation to collect and remit GST while also offering personal tax advantages.

Questions
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