--- title: "Contractor Accountant in Hamilton, ON: Holdbacks, T5018, WSIB" url: https://www.everstonecpa.com/contractor-accountant-hamilton description: "CPA for Hamilton contractors: the 10% Construction Act holdback, HST on progress bills, T5018 slips and WSIB, at a fixed fee. Send an enquiry today." type: service-in-a-city updated: 2026-10-02 summary: "Hamilton contractors work under Ontario’s Construction Act, so 10% of each progress bill is held back, and HST on that holdback is not payable until the holdback is. On top of that come T5018 slips for subcontractor payments, WSIB coverage and clearances, and a winter slowdown that makes instalments easy to get wrong." faq_count: 7 publisher: EverStone CPA Inc., a Chartered Professional Accountant firm registered with CPA British Columbia and CPA Alberta service_area: British Columbia, Alberta, Ontario and Manitoba language: en-CA contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online --- [Home](https://www.everstonecpa.com/) [Accountant in Hamilton](https://www.everstonecpa.com/accountant-hamilton) Construction contractors Construction & trades · Hamilton # Contractor accountant in *Hamilton* From infill on the lower city’s older streets to new subdivisions above the escarpment in Ancaster, Binbrook and upper Stoney Creek, Hamilton keeps its contractors busy. The accounting that comes with it is specific: holdbacks, progress draws, subcontractor slips and WSIB. EverStone is an [accountant for incorporated contractors](https://www.everstonecpa.com/contractor-accountant) and a [Hamilton small business accountant](https://www.everstonecpa.com/accountant-hamilton), at fixed fees, online. [Get My Fixed Quote](https://www.everstonecpa.com/book-online?service=monthly#enquiry-form)[Ask a Free Question](https://www.everstonecpa.com/quick-question) **Quick answer:** Hamilton contractors work under Ontario’s Construction Act, so 10% of each progress bill is held back, and HST on that holdback is not payable until the holdback is. On top of that come T5018 slips for subcontractor payments, WSIB coverage and clearances, and a winter slowdown that makes instalments easy to get wrong. EverStone handles the T2, the T5018s, payroll and the filing calendar at a fixed fee agreed before work begins. Published fees start at $325 a month for bookkeeping and $125 for a personal return. For a one-owner Hamilton contractor, monthly bookkeeping, payroll and the year-end T2 with statements usually cost from $500 to $700 a month all-in. ## The 10% holdback and when revenue counts Under Ontario’s Construction Act, the owner or contractor above you holds back 10% of the value of work done until the holdback period passes. That money is earned and billed but not yet payable. The work belongs to the year it was done, holdback included, but the cash comes later, sometimes only when asked for. Left in ordinary receivables, holdbacks blur the aged listing and go unclaimed. We track holdback receivable job by job and flag each release date so the release invoice goes out on time. The Act’s prompt payment rules give you a timetable to hold payers to, if your invoices are dated and tracked. [Construction holdbacks](https://www.everstonecpa.com/blog/construction-holdbacks-accounting-canada) covers the accounting. ## Progress billing and when HST becomes payable Ontario charges 13% HST on construction services; on a progress-billed job the question is when you owe it. HST generally becomes payable on the earlier of the day you are paid and the day the invoice is issued or payment falls due. The holdback is different: its HST becomes payable when the holdback is paid or payable, not when the bill went out. Get it wrong and you either remit tax months early or under-report and pay interest later. We split draw HST and holdback HST on progress invoices from the start. ## T5018 slips and the subcontractor question If most of your income comes from construction and you pay subcontractors for construction services, you generally file T5018 information returns, due six months after the reporting period ends (fiscal or calendar year). The harder question: is the person really a subcontractor? A framer working only for you, on your schedule, with your tools, may look like an employee to the CRA, and reclassification brings CPP and EI with interest. [The T5018 form guide](https://www.everstonecpa.com/forms/t5018) and [subcontractor versus employee](https://www.everstonecpa.com/blog/subcontractor-vs-employee-cra) cover both. ## WSIB, clearances and who has to be covered Ontario makes WSIB coverage compulsory for most construction work, reaching further than most industries, including many independent operators and some owners. Premiums depend on classification and are reported to WSIB, not the CRA. If a sub has no coverage, the hiring contractor can be liable for their premiums, so we keep each sub’s clearance with their invoice and check it before final payment. ## Equipment, winter and instalments Hamilton’s season slows when the ground freezes, but trucks, equipment payments and insurance run all year, so instalments set flat from last year’s tax can overpay in winter or fall short after a strong summer. A skid steer, excavator or work truck is recovered through capital cost allowance and must be available for use before year end to be claimed. We set instalments against your real pattern and test equipment purchases against projected income before you sign. [Cash flow for a seasonal business](https://www.everstonecpa.com/blog/managing-cash-flow-seasonal-business-canada) covers the planning side. A company truck that also takes the kids to hockey creates a taxable benefit unless personal use is tracked and kept low, and the CRA wants a log, not an estimate. A simple trip record is the cheapest defence. [The mileage and vehicle log](https://www.everstonecpa.com/mileage-and-vehicle-log) shows what to record. ## What EverStone handles for you One firm, one fixed fee agreed up front: - T2 corporate return and year-end financial statements - Holdbacks tracked job by job and reviewed at the cut-off - Progress invoices set up so HST on draws and holdbacks is split - T5018 subcontractor information returns - Subcontractor-versus-employee positions documented - WSIB reporting support and clearance records - Equipment CCA and instalments planned around the season ## Fixed fees, fully online Everything runs by video, phone and secure upload, which fits a business run from a truck. A typical trades-corporation bundle of bookkeeping, payroll and the year-end T2 with statements usually runs $500–$700 a month. The fee is fixed and agreed before work starts. See [what it costs](https://www.everstonecpa.com/pricing). About this article **EverStone CPA** Prepared and reviewed by a CPA at EverStone CPA, serving businesses in BC, Alberta, Ontario and Manitoba. Updated September 2026 . [About the firm](https://www.everstonecpa.com/about) · [Send an enquiry](https://www.everstonecpa.com/book-online?service=monthly#enquiry-form) ## What a Hamilton contractor has to get right What a Hamilton contractor has to get right The items that decide a contractor’s year — for a business operating in Hamilton, Ontario | Item | Why it matters | | Construction Act holdback | 10% held until the holdback period ends, tracked separately job by job | | HST on progress bills | Payable on the draw when billed or paid; on the holdback when it is paid or payable | | T5018 slips | Due six months after the end of the reporting period | | WSIB | Compulsory for most construction work, with clearances checked on subs | | Sales tax where you operate | 13% HST, a single registration and a single return | Source: [Accounting for contractors](https://www.everstonecpa.com/contractor-accounting-hub). General information, not advice. Other services for Hamilton businesses: [personal tax](https://www.everstonecpa.com/personal-tax-accountant-hamilton). ## Remote contractor accounting Contractor accounting for Hamilton clients is remote. **There is no Hamilton office and no local team.** Meetings are virtual, documents e-signed, and you deal with the CPA directly. Holdbacks, subcontractor payments and equipment costs are tracked as they happen. Common questions ## Hamilton accounting for construction contractors FAQ **How is the Construction Act holdback treated in my books?** As its own receivable, job by job. The work is done and billed, but 10% is held until the holdback period ends. Tracking it separately shows what is due for release and stops holdbacks going unclaimed. [Ask about your case →](https://www.everstonecpa.com/quick-question) **When do I remit HST on a holdback?** When the holdback is paid or becomes payable, whichever comes first, rather than when the progress bill went out. The HST on the rest of the draw follows the ordinary timing. **Do Hamilton contractors have to file T5018s?** If most of your business income is from construction and you pay subcontractors for construction services, generally yes. The slips are due six months after the end of the reporting period you choose. **Am I responsible if my subcontractor has no WSIB coverage?** You can be. A hiring contractor can be held liable for premiums owed by an uncovered sub, which is why a clearance should be checked before paying and kept on file. **Should I buy a new truck before my year end?** Only if it is available for use before the year end and the year’s income can absorb the CCA. A purchase in a thin year can simply move a deduction to where it is not needed. **Do you work with trades across Hamilton?** Yes — incorporated contractors and trades in Hamilton, Stoney Creek, Ancaster, Dundas, Burlington and across Ontario, handled online around your site schedule. **What does an accountant cost for a Hamilton construction business?** The fee is the same in Hamilton as anywhere else EverStone works. Monthly bookkeeping starts from $325 a month and a personal return from $125; a corporate return is quoted after we review your enquiry. A single question can go to a 45-minute Advice Call, a flat fee of $225 + GST. Every fee is fixed in writing first. [See the published fees](https://www.everstonecpa.com/pricing). ## Related services and local guides Nearby cities, the rest of what we do for Hamilton businesses, and the reference pages behind this one. [Payroll services in Hamilton](https://www.everstonecpa.com/payroll-services-hamilton) [Corporate tax accountant in Hamilton](https://www.everstonecpa.com/corporate-tax-accountant-hamilton) [Hiring an employee vs a contractor](https://www.everstonecpa.com/employee-vs-contractor-hiring-canada) [Accounting for contractors](https://www.everstonecpa.com/contractor-accounting-hub) [Accounting & CPA services in Hamilton](https://www.everstonecpa.com/accountant-hamilton) [Bookkeeping in Hamilton](https://www.everstonecpa.com/bookkeeping-hamilton) [Manufacturer accountant in Hamilton](https://www.everstonecpa.com/manufacturer-accountant-hamilton) [Trades accounting in Toronto](https://www.everstonecpa.com/trades-accountant-toronto) [T5018 subcontractor tracker Track subcontractor payments through the year](https://www.everstonecpa.com/t5018-subcontractor-tracker) [Accountants across Ontario](https://www.everstonecpa.com/accountant-ontario) [Ontario tax facts Current rates and thresholds for Ontario](https://www.everstonecpa.com/ontario-tax-facts) ### What clients say Rated 5.0 on Google across 26 client reviews. [Read all reviews](https://www.everstonecpa.com/reviews) ★★★★★ “…have been completing my bookkeeping, taxes and financials for the last 2 years and they have been amazing. Thank you!” R. H. Verified Google review ★★★★★ “…We switched to him last year for both our personal and small-business taxes — responsive, knowledgeable and quick.” Heather Powers Verified Google review ### Starting fees Every fee is fixed in writing before any work begins. - **Monthly bookkeeping, HST filing included** from $325 a month - **Payroll, remittances, T4s and ROEs** included in monthly bookkeeping - **Books, payroll and the year-end T2 together** $500–$700 a month - **Corporate year-end and T2 return** fixed fee, quoted in writing - **Personal tax return (T1)** from $125; self-employed or rental $275–$500 - **Catch-up bookkeeping** from $2,200 per year of records - **Controller or CFO support** controller from $1,650, CFO from $2,750 a month - **One-off advice call with a CPA** $225 plus applicable tax [Get My Fixed Quote](https://www.everstonecpa.com/book-online?service=monthly#enquiry-form) --- Source: https://www.everstonecpa.com/contractor-accountant-hamilton Prices: https://www.everstonecpa.com/pricing · Contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online