--- title: "Victoria, BC Realtor Accountant: PRECs, GST & Commissions" url: https://www.everstonecpa.com/realtor-accountant-victoria description: "Victoria realtors: PREC set-up, commission income, GST on commissions, vehicle and home-office claims and instalments, by a BC CPA. Send an enquiry." type: service-in-a-city updated: 2026-10-08 summary: "A Victoria realtor’s tax year turns on whether to work through a personal real estate corporation, how commissions are recorded and taxed with GST, and how well the car and home office claims are supported. EverStone prepares the T1 or the PREC’s T2, the GST returns and the year-end, at a fixed fee agreed before work starts. Published fees start at $325 a month for bookkeeping and $125 for a personal return." 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 Victoria](https://www.everstonecpa.com/accountant-victoria) Realtors Realtors · Victoria # Accountant for *Victoria* realtors Real estate in Greater Victoria runs from downtown condos to family homes in Saanich and Oak Bay and newer builds out through Langford and the Westshore. Agents working it are paid by commission through a brokerage, and in BC they can choose to receive that commission through a personal real estate corporation. EverStone is itself a British Columbia firm on the mainland, serving [Victoria businesses](https://www.everstonecpa.com/accountant-victoria) remotely, with [PREC accounting](https://www.everstonecpa.com/prec-accountant-bc) at a fixed fee. [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:** A Victoria realtor’s tax year turns on whether to work through a personal real estate corporation, how commissions are recorded and taxed with GST, and how well the car and home office claims are supported. EverStone prepares the T1 or the PREC’s T2, the GST returns and the year-end, at a fixed fee agreed before work starts. Published fees start at $325 a month for bookkeeping and $125 for a personal return. For a one-owner Victoria realtor’s PREC, monthly bookkeeping, payroll and the year-end T2 with statements usually cost from $500 to $700 a month all-in. Agents who also buy investment property should read [accounting for real estate investors](https://www.everstonecpa.com/accountant-for-real-estate-investors). The [Victoria accountant page](https://www.everstonecpa.com/accountant-victoria) covers the wider BC picture. ## Should you set up a PREC? BC allows licensed realtors to receive commission through a personal real estate corporation. The brokerage pays the corporation instead of you, and the corporation pays tax at small-business rates on what it keeps. The benefit is deferral: income you do not need to live on can stay in the company and be taxed personally later, when you take it out. If you spend everything you earn, the saving is small and the costs are real: a corporate bank account, a T2 and financial statements each year, a BC annual report, and more care with every expense. A PREC tends to make sense once commissions consistently exceed your living costs by a comfortable margin. We run the numbers on your last two years before you incorporate. See [incorporation decision](https://www.everstonecpa.com/should-i-incorporate). Once the PREC exists, you still choose how to pay yourself. Salary creates RRSP room and CPP contributions and needs a payroll account; dividends are simpler but build no RRSP room. Many agents mix the two and adjust yearly. Keep corporate money separate, because personal spending paid by the PREC becomes a shareholder loan. The [RRSP versus dividends guide](https://www.everstonecpa.com/blog/rrsp-vs-dividends-business-owner-canada) explains the trade-off. ## Commission income, splits and timing Commission is earned when a deal completes, not when the offer is accepted, and a spring listing can easily close in the next tax year. Brokerages pay the net amount after splits, desk fees and franchise charges. Record the gross commission and each deduction separately; recording only the deposit understates income and loses expenses the CRA would have allowed. Referral fees, bonuses and commission advances all count as income, and a T4A from the brokerage should agree with your records. If a slip is issued to you personally when the commission belongs to your PREC, ask for it to be corrected before you file. ## GST on commissions Commission from real estate services is taxable for GST. You must register once taxable revenue passes $30,000 in four consecutive calendar quarters, and most full-time agents pass that in their first year. The brokerage pays GST on top of the commission, and you remit it, less input tax credits on your own costs. A PREC is a separate person for GST, so it needs its own registration; your personal number does not carry over. Some agents use the Quick Method, which can leave a little of the GST collected in your pocket. The [Quick Method guide](https://www.everstonecpa.com/blog/gst-hst-quick-method-canada) compares the two, and [GST filing in Victoria](https://www.everstonecpa.com/gst-hst-filing-victoria) covers the returns. ## Car, home office and marketing Most Victoria agents drive a great deal: showings in Saanich in the morning, a listing in Sooke after lunch. The vehicle claim depends on a log of business kilometres, so keep one from January. A [mileage and vehicle log](https://www.everstonecpa.com/mileage-and-vehicle-log) template helps. Where a PREC owns the car, taxable benefit rules apply to personal use. A home office is deductible where it is your main place of work, or used regularly and only for meeting clients. Staging, photography, signage, online listings and client gifts are generally deductible, while meals and entertainment are limited. The [advertising deductions guide](https://www.everstonecpa.com/blog/advertising-promotion-deductions-canada) and [home office guide](https://www.everstonecpa.com/blog/home-office-expenses-incorporated-business-canada) cover the details. ## Instalments and an uneven year Commission income is lumpy, but the tax on it follows set rules. Once your net tax owing is more than $3,000 in the current year and either of the two previous years, the CRA expects personal instalments on March 15, June 15, September 15 and December 15. As a self-employed agent your return is due June 15, but any balance owing is still due April 30. Setting aside a fixed share of every commission in a separate account is the simplest defence against an April bill. The [instalment calculator](https://www.everstonecpa.com/tax-instalment-calculator) estimates the payments, and [personal tax in Victoria](https://www.everstonecpa.com/personal-tax-accountant-victoria) covers the T1. ## What EverStone handles for you One firm, one fixed fee agreed up front: - PREC decision modelled on your real commissions - T2 and financial statements for your PREC - T1 with business schedules if you are unincorporated - GST registration and returns - Vehicle, home office and marketing claims supported - Instalments planned around closings ## Fixed fees, fully online A self-employed T1 with schedules commonly runs $275 to $500; PREC work is quoted after we review your enquiry and fixed in writing. 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 realtor has to get right What a realtor has to get right The items that decide a realtor’s tax year — for a business operating in Victoria, British Columbia | Item | Why it matters | | PREC or not | Deferral only helps if you leave money in the company | | Gross commission | Record splits and fees, not just the deposit | | GST | Register early; a PREC needs its own number | | Vehicle log | The claim is only as good as the log | | 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 Victoria businesses: [fractional CFO work](https://www.everstonecpa.com/cfo-services-victoria) and [year-end statements](https://www.everstonecpa.com/financial-statements-victoria). ## Remote accounting for realtors EverStone is a CPA firm serving Victoria businesses online. **There is no Victoria office and no local staff.** We meet by video or phone; commission statements, mileage logs, receipts and signatures move by secure email, e-signature and upload link. No visit is required. Common questions ## Victoria accounting for realtors and personal real estate corporations FAQ **When is a PREC worth it for a Victoria agent?** When you regularly earn more than you need to live on, so income can stay in the corporation. If you spend most of your commission each year, the added costs can outweigh the deferral. We compare both on your actual numbers. [Ask about your case →](https://www.everstonecpa.com/quick-question) **Does my PREC need its own GST number?** Yes. The corporation is a separate person for GST and must register on its own. Your personal registration does not transfer, and invoices to the brokerage should show the PREC’s number. **Do I charge PST on my commission?** Generally no. Real estate commissions carry GST, but BC PST does not usually apply to them. PST can still apply to things you buy, such as signage and equipment. **Can I deduct my car if I also use it personally?** The business share, supported by a kilometre log. Without a log, the claim is hard to defend. In a PREC, personal use of a company car creates a taxable benefit. **What if the brokerage issues a T4A in my name, not my PREC’s?** Ask for a corrected slip before filing, and report consistently on both returns. Mismatched slips are a common reason for a CRA review letter. **Are brokerage desk fees and splits deductible?** Yes, when they are recorded. Desk fees, franchise fees and the brokerage’s share are business costs. Record the gross commission and each deduction separately so they appear on the return rather than disappearing into a net deposit. **Do you work with agents across Greater Victoria?** Yes — Victoria, Saanich, Oak Bay, Esquimalt, Langford, Sooke and the Westshore, and across BC and in Alberta, Ontario and Manitoba. Everything runs online by video, phone and secure upload. ## Related services and local guides Nearby cities, the rest of what we do for Victoria businesses, and the reference pages behind this one. [Realtor accountant in Vancouver](https://www.everstonecpa.com/realtor-accountant-vancouver) [PREC accountant in BC](https://www.everstonecpa.com/prec-accountant-bc) [Contractor accountant in Victoria](https://www.everstonecpa.com/contractor-accountant-victoria) [Consultant accountant in Victoria](https://www.everstonecpa.com/consultant-accountant-victoria) [Accountant for realtors](https://www.everstonecpa.com/accountant-for-realtors) [Accounting & CPA services in Victoria](https://www.everstonecpa.com/accountant-victoria) [Bookkeeping in Victoria](https://www.everstonecpa.com/bookkeeping-victoria) [Corporate tax (T2) in Victoria](https://www.everstonecpa.com/corporate-tax-accountant-victoria) [GST/HST filing in Victoria](https://www.everstonecpa.com/gst-hst-filing-victoria) [Restaurant accountant in Victoria](https://www.everstonecpa.com/restaurant-accountant-victoria) [Accountants across British Columbia](https://www.everstonecpa.com/accountant-british-columbia) [British Columbia tax facts](https://www.everstonecpa.com/bc-tax-facts) ### What clients say Rated 5.0 on Google across 26 client reviews. [Read all reviews](https://www.everstonecpa.com/reviews) ★★★★★ “Personal. Professional. Responsive. Plus he saved me a bundle!” Corrin Skalbeck Verified Google Local Guide ★★★★★ “…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, GST/PST 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/realtor-accountant-victoria Prices: https://www.everstonecpa.com/pricing · Contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online