No accountant-speak. No fluff. Just practical information for Ontario trades businesses and contractors.
These are the trades-specific questions I get most often, the ones that actually move the needle for your business.
If construction is your primary source of business income, qualifying subcontractor payments over CRA’s threshold may trigger T5018 reporting. Here are the current threshold and deadline rules.
The Quick Method can simplify GST/HST reporting for eligible businesses, but the rate, ITC treatment, election timing, and savings depend on your actual numbers.
Work-truck tax treatment depends on vehicle classification, business use, CCA limits, and current first-year incentive rules. Here’s what records your accountant will need.
Ontario’s holdback regime changed in 2026. This bookkeeping guide explains the 10% basic holdback, annual-release records, and why legal release timing must be confirmed separately.
CRA looks at the real working relationship - not the label on the invoice. Learn the factors used to distinguish an employee from a self-employed contractor.
Job costing turns revenue into useful project information - but only when costs are coded consistently. Here’s a practical starting point and where detailed costing needs extra scope.
A practical calendar of common HST, payroll, T5018, WSIB, and income-tax dates. Confirm the dates and reporting periods that apply to your business with the relevant authority or adviser.
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No blog article needed. These are free, actionable, and will make a difference today.
Mixing personal and business money is the #1 thing that makes bookkeeping expensive and messy. A separate account takes 30 minutes to set up and will save you hours every year.
CRA accepts digital copies. Use QuickBooks Mobile or even just a folder in your phone photos. The receipt you don't scan is the deduction you'll lose.
Confirm your assigned HST reporting period and due date in CRA My Business Account. Filing and payment dates depend on the registrant and reporting period.
Basic subcontractor payment tracking is included in both monthly services. Contractor Bookkeeping can add annual T5018 preparation and filing for $200/year plus $10 per subcontractor. Books + Back Office includes annual T5018 preparation and filing when applicable and supported by complete client records.
Keep a separate tax reserve based on guidance from your accountant or tax adviser rather than treating the operating-account balance as spendable cash.
New guides added regularly, covering the questions Ontario trades businesses ask me most.
General information only. Resource content is educational and is not tax, legal, payroll, WSIB, or accounting advice for a specific business. Confirm filing, classification, election, and legal decisions with the appropriate authority or qualified adviser.
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