--- title: "Brampton Realtor Accountant: PRECs, HST and Commission" url: https://www.everstonecpa.com/realtor-accountant-brampton description: "Brampton realtors: Ontario PRECs since 2020, HST on commission, car and home-office claims and tax instalments, handled online. Send an enquiry." updated: 2026-10-16 publisher: EverStone CPA Inc. (Chartered Professional Accountant firm, Abbotsford, BC) service_area: British Columbia, Alberta, Ontario and Manitoba --- [Home](https://www.everstonecpa.com/) Realtor accountant in Brampton Realtors & PRECs · Brampton # Realtor accountant in *Brampton* Ontario has allowed realtors to earn through a personal real estate corporation since 2020. For a Brampton agent that turned one tax return into a choice: keep reporting commission personally, or route it through a company and decide how and when it reaches you. EverStone is an [accountant for realtors](https://www.everstonecpa.com/accountant-for-realtors) and a [Brampton small business accountant](https://www.everstonecpa.com/accountant-brampton), serving Peel Region remotely at fixed fees. [Get My Fixed Quote](https://www.everstonecpa.com/book-online)[Ask a Free Question](https://www.everstonecpa.com/quick-question) **Quick answer:** A Brampton realtor either reports commission personally on the T1 or earns it through an Ontario personal real estate corporation that files a T2. Commission is subject to 13% HST once you are registered, and registration is mandatory past $30,000 of taxable sales in four consecutive quarters. Car and home-office claims rest on records kept through the year. EverStone handles the returns, HST and instalment planning remotely. For a one-owner Brampton realtor’s PREC, monthly bookkeeping, payroll and the year-end T2 with statements usually cost from $450 to $650 a month all-in. The year-end covers the T2 with Schedule 1 and Schedule 50, the CCA schedule, the small business deduction, T4 or T5 slips for the owner’s pay, and the instalments for the year ahead. The [hub for realtors, PRECs and brokers](https://www.everstonecpa.com/real-estate-professionals-accounting) explains commission income in general. If you also hold rental property, see [accounting for real estate investors](https://www.everstonecpa.com/accountant-for-real-estate-investors). ## Selling in Brampton and across Peel A Brampton agent’s year rarely stays inside the city limits. Listings and showings run from Bramalea and the downtown core out to Caledon and over to Mississauga, and many agents sell across the wider GTA. For the accounting, that has two consequences. Driving is a large and genuine business cost, which makes the vehicle log the single most valuable record an agent keeps. And income tends to be lumpy: a few strong months can carry the year, which makes instalments and cash set-asides more important than they look. Many agents also work with investors, and some own rental property themselves. Brampton licenses short-term rentals under its Short-Term Rental Licensing By-law 165-2021, so an agent advising on, or operating, a short-term rental should treat the licence as part of the cost of running it. Rental income itself sits on a separate schedule from commission and is not PREC income. ## What changed for Ontario realtors in 2020 Before 2020, an Ontario salesperson or broker had to take commission personally. Every dollar was taxed at personal rates in the year it was earned, whether you spent it or not. Since then, a registrant can have the brokerage pay commission to a personal real estate corporation instead. The corporation pays tax at corporate rates, and you decide how and when money moves to you. The rules are narrow. The corporation exists to carry on your real estate trading, the ownership and control conditions are set by the province, and the brokerage relationship stays in place. In practice a PREC is a vehicle for one agent’s commission, not a general holding company. Get the structure confirmed before the first commission is redirected, because a cheque paid to the wrong entity is awkward to undo. ## Does a PREC make sense for you? The benefit comes from leaving profit in the corporation. If you draw everything you earn to cover a mortgage and living costs, the deferral is small and the extra T2, bookkeeping and year-end statements cost more than they save. If you earn well above what you spend, the gap stays in the company at a lower rate until you need it. The answer turns on how much you draw, not what you gross. Run your real numbers through the [incorporation calculator](https://www.everstonecpa.com/incorporation-calculator) and the [salary-versus-dividends calculator](https://www.everstonecpa.com/salary-vs-dividends-calculator) before you decide. Then decide the draw pattern at the start of each year. Money taken from the PREC without being declared as salary or dividends becomes a shareholder loan. If it is not repaid within one year after the corporation’s year-end, it is generally taxed as your income. The [shareholder loans guide](https://www.everstonecpa.com/blog/shareholder-loans-canada-taking-money-out-of-corporation) covers the trap. ## HST on commissions Real estate commission is a taxable supply, so a registered agent charges [13% HST](https://www.everstonecpa.com/ontario-tax-facts) on it. Registration is mandatory once taxable sales pass $30,000 in four consecutive calendar quarters, and most full-time agents cross that early. If you incorporate, the PREC needs its own HST registration, separate from the one you held personally. Commission paid to the old number after the switch is a common first-year error. Registration also lets you recover HST on staging, photography, advertising and vehicle costs through input tax credits. Most agents with annual revenue of $1.5 million or less file once a year. That makes it easy to spend the HST held in the account. Moving each commission’s HST to a separate account the day it lands prevents a large spring bill. See [GST/HST filing in Brampton](https://www.everstonecpa.com/gst-hst-filing-brampton). ## Car and home-office claims The vehicle claim is based on the business share of kilometres, and a log is what proves that share. A log kept for the whole year, or for a representative period that matches the pattern, holds up. A percentage estimated at filing time does not. Use the [mileage and vehicle log](https://www.everstonecpa.com/mileage-and-vehicle-log) from the first week. Driving from home to the brokerage and back is generally personal; trips to listings, showings and client meetings are business. A home office is claimable where it is your principal place of business, or used regularly and exclusively to meet clients. A desk available at the brokerage weakens the claim but does not end it; what counts is where the work actually happens. Inside a PREC, both claims work differently. The corporation reimburses you or owns the car, and a company-owned car can create a taxable benefit. ## Commission timing and instalments Commission arrives on closing dates, not a payroll calendar. A spring market can deliver most of a year’s income in a few months, and the gross deposit is before splits, desk fees and marketing. Personal instalments are required when net tax owing exceeds $3,000 in the current year and either of the two previous years. They are due March 15, June 15, September 15 and December 15. The CRA’s reminder is based on history, so a rising year can leave you short even if you pay it exactly. Setting aside a fixed share of each commission is the discipline that keeps April calm. The [tax instalment calculator](https://www.everstonecpa.com/tax-instalment-calculator) shows the schedule. ## What EverStone handles for you One CPA, one fixed fee agreed up front: - PREC T2 return and year-end financial statements - Personal T1 with the T2125 for commission, coordinated with the corporate return - HST registration and filings for you or your PREC - Vehicle, home-office and marketing claims supported properly - Instalments planned against real closing dates - Salary and dividend mix reviewed each year ## Fixed fees, fully online EverStone is a CPA firm serving Brampton realtors entirely online: video calls, a secure upload link and e-signature. A self-employed T1 with schedules is commonly $250–$450; a PREC with bookkeeping and a T2 is quoted after we review your enquiry. If you only need a decision made, a 45-minute [Advice Call](https://www.everstonecpa.com/advice-call) is a flat $200 + GST. See [what it costs](https://www.everstonecpa.com/pricing). About this article **EverStone CPA** Prepared and reviewed by a Chartered Professional Accountant at EverStone CPA, a CPA firm working with small and midsized businesses in BC, Alberta, Ontario and Manitoba. Updated October 2026 . [About the firm](https://www.everstonecpa.com/about) · [Send an enquiry](https://www.everstonecpa.com/book-online) ## What a Brampton realtor has to get right What a Brampton realtor has to get right The items that decide a realtor’s year-end — for a business operating in Brampton, Ontario | Item | Why it matters | | Commission income | Taxed on the gross before splits and fees come out | | Personal real estate corporation | Permitted in Ontario since 2020; changes which return the income lands on | | HST on commissions | Taxable once registered; a PREC needs its own number | | Vehicle and home office | Claims rest on a log and on where the work really happens | | Sales tax where you operate | 13% HST, a single registration and a single return | Source: [Real estate professional accounting](https://www.everstonecpa.com/real-estate-professionals-accounting). General information, not advice. Other services for Brampton businesses: [fractional CFO work](https://www.everstonecpa.com/cfo-services-brampton) and [year-end statements](https://www.everstonecpa.com/financial-statements-brampton). Common questions ## Brampton accounting for realtors and personal real estate corporations FAQ **Can Ontario realtors incorporate?** Yes. Since 2020 Ontario has permitted salespersons and brokers to receive commission through a personal real estate corporation, subject to provincial conditions on ownership and control. The brokerage pays the corporation instead of you. [Ask about your case →](https://www.everstonecpa.com/quick-question) **Is a PREC worth it if I spend most of what I earn?** Usually not. The advantage comes from profit left in the corporation. If you draw nearly everything, the added T2 and bookkeeping can outweigh the deferral. **Do I need a new HST number when I incorporate?** Yes. The PREC is a separate person for HST and needs its own registration. Tell the brokerage which number to use from the first commission paid to the corporation. **How much of my car can I claim?** The business share of your driving, supported by a log. Driving from home to the brokerage and back is generally personal, while trips to showings and listings are business. **Why was my April tax bill so large?** Usually because commission arrived gross, instalments were set from an earlier, smaller year, and HST collected was spent before it was filed. Setting aside tax and HST from each commission fixes all three. **Does my rental income go into my PREC?** No. A PREC carries your real estate trading income. Rental property you own personally is reported on your own return, and a short-term rental in Brampton also needs a city licence. **Do you work with realtors outside Brampton itself?** Yes. Realtors in Bramalea, Caledon, Mississauga and the rest of Peel Region are served the same way, remotely and at the same fixed fees, as are agents across BC, Alberta, Ontario and Manitoba. Toronto agents are covered on the [Toronto accountant](https://www.everstonecpa.com/accountant-toronto) page. ## Related services and local guides The rest of what we do for Brampton businesses, and the reference pages behind this one. [Personal tax accountant in Brampton T1 preparation for Brampton owners, coordinated with the corporate return.](https://www.everstonecpa.com/personal-tax-accountant-brampton) [Shareholder loans Taking money out of a PREC without a tax surprise.](https://www.everstonecpa.com/blog/shareholder-loans-canada-taking-money-out-of-corporation) [Vehicle and mileage deductions What the log has to show and how the business share is calculated.](https://www.everstonecpa.com/blog/vehicle-mileage-deductions-canada-business) [Accounting for realtors Commission income and PREC structures](https://www.everstonecpa.com/accountant-for-realtors) [Accounting & CPA services in Brampton The full engagement for Brampton companies](https://www.everstonecpa.com/accountant-brampton) [Corporate tax (T2) in Brampton The T2, Ontario rates and the registry return](https://www.everstonecpa.com/corporate-tax-accountant-brampton) [Personal tax (T1) in Brampton Owner and family returns, surtax included](https://www.everstonecpa.com/personal-tax-accountant-brampton) [Bookkeeping in Brampton Monthly books with HST filed](https://www.everstonecpa.com/bookkeeping-brampton) [Payroll in Brampton Source deductions, EHT, WSIB and T4s](https://www.everstonecpa.com/payroll-services-brampton) [GST/HST filing in Brampton 13% HST returns and input tax credits](https://www.everstonecpa.com/gst-hst-filing-brampton) [Financial statements in Brampton Year-end compilations for Brampton companies](https://www.everstonecpa.com/financial-statements-brampton) [Fractional CFO in Brampton Margin, cash and lender reporting](https://www.everstonecpa.com/cfo-services-brampton) [Trades accounting in Brampton Holdbacks, WSIB and T5018 slips](https://www.everstonecpa.com/trades-accountant-brampton) [Accounting & CPA services in Toronto The nearest big-city page in the GTA](https://www.everstonecpa.com/accountant-toronto) [Accountants across Ontario Remote CPA service throughout Ontario](https://www.everstonecpa.com/accountant-ontario) [Ontario tax facts Current rates and thresholds for Ontario](https://www.everstonecpa.com/ontario-tax-facts) Fees are fixed and agreed in writing before the work starts; [the published fee page](https://www.everstonecpa.com/pricing) shows the starting points. ### What clients say Rated 5.0 on Google across 21 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 ## Selling real estate in Brampton? One CPA for your corporate tax, books and planning. Fixed fee, fully online. Send an enquiry. [Get My Fixed Quote](https://www.everstonecpa.com/book-online)[Ask a Free Question](https://www.everstonecpa.com/quick-question) ## Remote accounting for realtors EverStone is a CPA firm serving Brampton owners entirely online. **There is no office in Brampton and no local staff.** Meetings are held by video, documents come in through a secure upload link and are signed by e-signature, and no visit is required at any point. Commission statements, the PREC decision and your expense records are handled together, because in practice they are one decision. ## Talk to a CPA about this One Chartered Professional Accountant, start to finish. Fixed fees, quoted in writing before any work begins, and no obligation from a first conversation. [Get My Fixed Quote](https://www.everstonecpa.com/book-online) [Ask a Free Question](https://www.everstonecpa.com/quick-question) Email info@everstonecpa.com --- Source: https://www.everstonecpa.com/realtor-accountant-brampton Contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online