--- title: "Realtor Accountant in Courtenay: PREC, GST and Commission" url: https://www.everstonecpa.com/realtor-accountant-courtenay description: "Tax for Courtenay and Comox Valley realtors: commission with nothing withheld, GST, the PREC decision, vehicle logs and instalments. Get a fixed quote." 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/) [Accountant in Courtenay](https://www.everstonecpa.com/accountant-courtenay) Realtors Realtors & PRECs · Courtenay # Realtor accountant in *Courtenay* A Comox Valley realtor might list a family home in Courtenay, show a condo near the Comox marina and drive a buyer out to acreage near Cumberland or a waterfront lot at Union Bay, all in one week. The income comes as commission with nothing withheld. EverStone is an [accountant for realtors](https://www.everstonecpa.com/accountant-for-realtors) and a [Courtenay small-business accountant](https://www.everstonecpa.com/accountant-courtenay), at fixed fees, online. [Get My Fixed Quote](https://www.everstonecpa.com/book-online)[Ask a Free Question](https://www.everstonecpa.com/quick-question) **Quick answer:** A Courtenay realtor is paid commission with no income tax, CPP or EI withheld, and usually has to register for GST and charge it on that commission. A realtor can also claim the business share of a vehicle with a proper log. BC permits personal real estate corporations, so commission can be paid to a company and taxed at the small-business rate until you draw it. EverStone prepares the returns either way. A self-employed T1 with schedules is commonly $250–$450. For an unincorporated Courtenay realtor, a self-employed T1 with schedules is commonly $250–$450 a year. For a realtor’s PREC, bookkeeping, payroll and the year-end T2 with statements usually come to $450–$650 a month all-in. [The published fees](https://www.everstonecpa.com/pricing) show every starting point. ## Commission with nothing withheld The brokerage pays your commission gross. No income tax, CPP or EI comes off it. Every closing therefore carries tax that is still unpaid, and the bill arrives on April 30. A strong spring and summer can make that bill large, and the instalment reminders follow for the next year. 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. An unincorporated realtor files the T1 by June 15 but still pays by April 30. Setting aside a share of each commission cheque the day it lands is the habit that prevents all of this. The [tax instalment calculator](https://www.everstonecpa.com/tax-instalment-calculator) shows what to set aside. ## GST on each commission Real estate commission is a taxable supply. Registration becomes mandatory once your commissions pass $30,000 in four consecutive calendar quarters, and many realtors register from their first deal so they can recover GST on their costs. The brokerage then pays GST on top of the commission, and you remit it, less input tax credits on marketing, vehicle costs, desk fees and your phone. The usual errors are small and repeated: GST spent rather than set aside, credits claimed on personal costs, or a return filed late. A sole proprietor filing annually with a December year-end files by June 15 and pays by April 30. A PREC files and pays three months after its year-end. See [GST registration](https://www.everstonecpa.com/blog/gst-hst-registration-guide-small-business). ## A personal real estate corporation in BC BC permits licensees to earn commission through a personal real estate corporation. The brokerage pays the PREC, and the company pays tax on its active business income at the small-business rate of 11% combined. Money you leave in the company is taxed at that rate until you take it out as salary or dividends, when personal tax applies. The gain is a deferral on money you do not need to live on. A realtor who spends everything earned gains little and takes on a T2, a BC annual report and a separate set of books. Dividends to family members are limited by the tax on split income rules. The PREC has to meet the regulator’s requirements before the brokerage can pay it. The [PREC accountant for BC realtors](https://www.everstonecpa.com/prec-accountant-bc) page covers the setup, and [corporate tax in Courtenay](https://www.everstonecpa.com/corporate-tax-accountant-courtenay) covers the T2 itself. ## Kilometres from Fanny Bay to Comox The Comox Valley market is spread out. A week of showings can run from Courtenay to Comox, up into Cumberland and down the Baynes Sound shore through Royston and Union Bay towards Fanny Bay, with rural acreage in between. Listings on Denman or Hornby Island add a ferry. The vehicle is usually the largest claim on a realtor’s return, and the CRA expects a log to support the business share. The log records each business trip with its date, destination and kilometres, plus odometer readings at the start and end of the year. Inside a PREC the company can own the vehicle, which can create a taxable benefit, or pay you a reasonable per-kilometre allowance for using your own. The [mileage and vehicle log](https://www.everstonecpa.com/mileage-and-vehicle-log) sets out what to record, and [vehicle and mileage deductions](https://www.everstonecpa.com/blog/vehicle-mileage-deductions-canada-business) explains the limits. ## Buyers who arrive from somewhere else Many Comox Valley transactions involve people moving in or out. 19 Wing Comox is the only Canadian Air Force base on the west coast, and military households buy and sell when postings change. Comox Valley Airport has scheduled flights to Vancouver, Calgary and Edmonton, so a buyer from the Mainland or Alberta may see several houses in a single weekend visit. Travel for a business purpose, such as a ferry crossing to meet a client or a trip to a listing presentation, is deductible, and the receipts belong with the deal they relate to. Meals with clients are generally limited to 50% of the cost. Closing gifts are deductible when they are a genuine business cost. Coding each type separately makes the limits apply automatically. [The 50% meals rule](https://www.everstonecpa.com/blog/meals-entertainment-deduction-50-percent-rule-canada) explains the limit. ## Investor clients and short-term rentals Clients often ask about rental income, and the rules in Courtenay affect what a property can earn. The city requires a business licence and provincial registration for a short-term rental, and only an owner who lives on the property as a principal residence can operate one. A realtor who owns a suite or a rental of their own reports it on form T776, separately from commission income, and keeps the records apart. We prepare both on the same file. ## Brokerage fees, marketing and the home office Desk fees, franchise fees, listing photography, staging, signs and online advertising are ordinary business expenses. They are often the largest lines after the vehicle, and the CRA looks at them first. Keep the invoices and the brokerage statements together, because they show what was charged and what was netted from your commission. A home office qualifies when it is where you mainly work, or is used only for the business and regularly for meeting clients. The claim is a share of utilities, insurance and maintenance. For a homeowner, claiming CCA on the home is usually a mistake because it can affect the principal residence exemption. ## What EverStone handles for you One CPA, one fixed fee agreed up front: - Personal return with T2125, or the T2 and statements for a PREC - GST registration, returns and input tax credits - Instalments sized to your actual commission year - Vehicle and home-office claims supported by records - Salary and dividend planning from a PREC - Bookkeeping reconciled to the brokerage statements Realtors who own rentals as well can have the [personal return](https://www.everstonecpa.com/personal-tax-accountant-courtenay) and the T776 handled on the same file. ## Fixed fees, fully online EverStone is a CPA firm, and Courtenay realtors are served entirely online. There is no Courtenay office. Brokerage statements, receipts and the vehicle log come in through a secure upload link, questions go by email first, and a video meeting is booked when it helps. That suits a working day spent between showings. The fee is fixed and agreed before work starts. About this article **EverStone CPA** Prepared and reviewed by a Chartered Professional Accountant at EverStone CPA, a CPA firm working with small businesses and incorporated owners across British Columbia. Updated October 2026 . [About the firm](https://www.everstonecpa.com/about) · [Send an enquiry](https://www.everstonecpa.com/book-online) ## What a realtor has to get right What a realtor has to get right The items that decide a realtor’s year — for a business operating in Courtenay, British Columbia | Item | Why it matters | | Tax set aside | Commission is paid with nothing withheld | | GST | Commission is taxable, and registration is mandatory past the small-supplier threshold | | PREC or not | A deferral that only pays when income is left in the company | | Vehicle log | The record behind the largest expense claim on most returns | | Sales tax where you operate | 5% GST plus 7% BC PST: two registrations, two returns | Source: [Real estate professionals accounting](https://www.everstonecpa.com/real-estate-professionals-accounting). General information, not advice. Other services for Courtenay realtors: [corporate tax for a PREC](https://www.everstonecpa.com/corporate-tax-accountant-courtenay) and [monthly bookkeeping](https://www.everstonecpa.com/bookkeeping-courtenay). Common questions ## Courtenay accounting for realtors and personal real estate corporations FAQ **Is a PREC worth it for a Courtenay realtor?** It depends on how much commission you can leave in the company. The benefit is paying the small-business rate on income you do not need personally. If you draw everything each year, the extra costs of a corporation can outweigh it. [Ask about your case →](https://www.everstonecpa.com/quick-question) **Do I charge GST on commission?** Yes, once you are registered, and registration is mandatory once commissions pass $30,000 in four consecutive calendar quarters. The brokerage pays the GST on top of your commission. **Are ferry trips to a Denman or Hornby listing deductible?** Yes, when the trip is for the business. Keep the fare receipt with the deal it relates to. Meals on the trip are generally limited to 50% of the cost. **When are my instalments due?** March 15, June 15, September 15 and December 15, once net tax owing exceeds $3,000 in the current year and either of the two previous years. **What does a realtor’s accountant cost in Courtenay?** Courtenay realtors pay the same published fees as everyone else. A self-employed T1 with schedules is commonly $250–$450; a PREC is quoted after we review your enquiry. Every fee is fixed in writing first. [See the published fees](https://www.everstonecpa.com/pricing). **Do you work with realtors outside Courtenay itself?** Yes. Realtors in Comox, Cumberland, Royston, Union Bay and the rest of the Comox Valley are served the same way as those in Courtenay, remotely and at the same fixed fees. ## Related services and local guides Nearby cities, the rest of what we do for Courtenay businesses, and the reference pages behind this one. [Contractor accountant in Courtenay T5018 slips, holdbacks, WorkSafeBC and PST on materials for Comox Valley builders.](https://www.everstonecpa.com/contractor-accountant-courtenay) [Personal tax accountant in Courtenay Rentals, pensions and self-employed income on the T1 for Comox Valley residents.](https://www.everstonecpa.com/personal-tax-accountant-courtenay) [Tax on split income When dividends to family members are taxed at the top rate.](https://www.everstonecpa.com/blog/tosi-tax-on-split-income-canada) [Accountant in Courtenay The full CPA service for Comox Valley businesses](https://www.everstonecpa.com/accountant-courtenay) [Payroll in Courtenay When a PREC or a team starts paying salaries](https://www.everstonecpa.com/payroll-services-courtenay) [Trades accounting in Courtenay Vans, tools and apprentices](https://www.everstonecpa.com/trades-accountant-courtenay) [Restaurant accounting in Courtenay Tips, liquor PST and the daily close](https://www.everstonecpa.com/restaurant-accountant-courtenay) [Farm accounting in Courtenay Cash method, GST and succession](https://www.everstonecpa.com/farm-accountant-courtenay) [Realtor accountant in Nanaimo The same realtor engagement, serving the central Island](https://www.everstonecpa.com/realtor-accountant-nanaimo) [Realtor accountant in Victoria The same realtor engagement, serving Victoria](https://www.everstonecpa.com/realtor-accountant-victoria) [Home office for incorporated owners How a PREC reimburses the home office](https://www.everstonecpa.com/blog/home-office-expenses-incorporated-business-canada) [Salary or dividends Paying yourself from a PREC](https://www.everstonecpa.com/blog/salary-vs-dividends-2026) [Accountant in Nanaimo The nearest larger-city page](https://www.everstonecpa.com/accountant-nanaimo) [Accountants across British Columbia Remote CPA service throughout British Columbia](https://www.everstonecpa.com/accountant-british-columbia) [British Columbia tax facts Current rates and thresholds for British Columbia](https://www.everstonecpa.com/bc-tax-facts) ## Selling real estate in the Comox Valley? One CPA for your commission, GST, PREC 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) ## 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) --- Source: https://www.everstonecpa.com/realtor-accountant-courtenay Contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online