--- title: "Oakville Realtor Accountant: PRECs, HST and Commission" url: https://www.everstonecpa.com/realtor-accountant-oakville description: "Accountant for Oakville realtors: commission income, HST on commission, PREC set-up, T2125 or T2 returns and instalments, done online. 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 Oakville](https://www.everstonecpa.com/accountant-oakville) Realtors Realtors & PRECs · Oakville # Realtor accountant in *Oakville* Ontario has allowed realtors to earn through a personal real estate corporation since 2020. For an Oakville agent that can turn one tax return into two and opens a real choice about how commission reaches you. EverStone is an [accountant for realtors](https://www.everstonecpa.com/accountant-for-realtors) and an [Oakville small business accountant](https://www.everstonecpa.com/accountant-oakville), serving Halton agents 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:** An Oakville realtor either reports commission personally on the T1, with form T2125, 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 Oakville 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 Oakville and across Halton Oakville agents rarely work inside the town limits alone. A typical year can include listings in lakeside Bronte, in Glen Abbey and elsewhere in town, buyers moving from Mississauga or Toronto, and deals in Burlington and Milton, the other Halton municipalities. That pattern matters for the accounting in two ways. The driving is substantial, so the vehicle claim is often the largest deduction on the return, and it has to be supported by a log. And commission arrives on closing dates that cluster in the busy seasons, so tax and HST have to be set aside as each cheque lands rather than found in April. ## 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 the lower small-business 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. ## Paying yourself from a PREC Once commission flows to the corporation, you are paid by salary, dividends or a mix. Salary goes through payroll with a T4 slip, carries CPP and creates RRSP room; dividends go on a T5 slip and do neither. Many agents applying for a mortgage find a steady T4 easier to document. Others prefer dividends and simpler admin. Ontario’s personal surtax changes where the crossover sits, so the mix is worth reviewing each year with the [personal return](https://www.everstonecpa.com/personal-tax-accountant-oakville) rather than set once and forgotten. ## 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, which 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 April bill. See [GST/HST filing in Oakville](https://www.everstonecpa.com/gst-hst-filing-oakville). ## Car and home-office claims Most Oakville agents drive between listings, showings and the brokerage, often well beyond the town. 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. The vehicle itself is depreciated through CCA, with its own class limits for passenger vehicles. 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 busy spring 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 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 coordinated with the corporate return, or a T2125 if you are not incorporated - 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 Oakville 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 an Oakville realtor has to get right What an Oakville realtor has to get right The items that decide a realtor’s year-end — for a business operating in Oakville, 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 Oakville businesses: [fractional CFO work](https://www.everstonecpa.com/cfo-services-oakville) and [year-end statements](https://www.everstonecpa.com/financial-statements-oakville). Common questions ## Oakville 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. **What does a realtor accountant cost in Oakville?** A self-employed T1 with schedules is commonly $250 to $450. For a PREC, monthly bookkeeping, payroll and the year-end T2 with statements usually run $450 to $650 a month all-in. [See the published fees](https://www.everstonecpa.com/pricing). **Do you work with realtors outside Oakville itself?** Yes. Realtors in Burlington, Milton, Halton Hills and Mississauga are served the same way as those in Oakville, remotely and at the same fixed fees. ## Related services and local guides Nearby cities, the rest of what we do for Oakville businesses, and the reference pages behind this one. [Accounting for real estate professionals Commission income, PRECs, brokers and the HST that comes with them.](https://www.everstonecpa.com/real-estate-professionals-accounting) [Vehicle deductions for business What a log needs to show and how the business share is worked out.](https://www.everstonecpa.com/blog/vehicle-mileage-deductions-canada-business) [Shareholder loans Taking money out of a corporation without it becoming income by accident.](https://www.everstonecpa.com/blog/shareholder-loans-canada-taking-money-out-of-corporation) [Realtor accountant in Toronto The same realtor engagement, serving Toronto](https://www.everstonecpa.com/realtor-accountant-toronto) [Realtor accountant in Hamilton The same realtor engagement, serving Hamilton](https://www.everstonecpa.com/realtor-accountant-hamilton) [Corporate tax (T2) in Oakville Corporate tax for Oakville businesses](https://www.everstonecpa.com/corporate-tax-accountant-oakville) [Personal tax (T1) in Oakville Personal tax for Oakville owners](https://www.everstonecpa.com/personal-tax-accountant-oakville) [Bookkeeping in Oakville Bookkeeping for Oakville businesses](https://www.everstonecpa.com/bookkeeping-oakville) [Payroll in Oakville Payroll for Oakville employers](https://www.everstonecpa.com/payroll-services-oakville) [GST/HST filing in Oakville HST returns for Oakville businesses](https://www.everstonecpa.com/gst-hst-filing-oakville) [Trades accountant in Oakville Accounting for Oakville contractors](https://www.everstonecpa.com/trades-accountant-oakville) [Accountant in Toronto Remote CPA work for Toronto companies](https://www.everstonecpa.com/accountant-toronto) [Accountant in Oakville The full Oakville practice page](https://www.everstonecpa.com/accountant-oakville) [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 Oakville? 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 fully virtual CPA firm, serving Oakville agents entirely online. **There is no Oakville office and no local staff.** Meetings are held by video or phone, 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-oakville Contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online