Who this is for
- Licensed agents earning commission personally, without a corporation
- Agents with a Personal Real Estate Corporation who need the corporate return and personal return done together
- Agents whose records are a year behind or mixed with personal spending
- New agents who want the records set up properly from the start
What to bring
- Commission statements from your brokerage for the year
- Last year's returns and Notices of Assessment, personal and corporate
- Business bank and credit card statements
- Expense records: licensing and board fees, marketing, vehicle, phone, office, client costs
- GST filings made during the year, if registered
- For a PREC: the corporate year end, any salary or dividends paid to you, and money moved between you and the company
Two different situations
Not incorporated. Your commission is business income on your personal return. We prepare that return with your income and expenses. We handle GST if you are registered. We keep the records in order so next year is easier.
Operating through a PREC. The corporation files a T2 corporate return. You file a personal return. What the corporation pays you, as salary or dividends, must match on both. We prepare both and explain how they connect.
What we do
- T2 preparation and filing for an existing PREC
- Your personal return, coordinated with the corporate one
- Bookkeeping, including separating personal transactions from business ones
- GST returns and record organization
- Reviewing commission statements and expense records so nothing is missed
- Year-end preparation, including the questions to settle about how you pay yourself
Advice on whether to incorporate, legal documents, and brokerage or licensing compliance are separate matters. We will tell you when something needs a lawyer or your brokerage.
How it works
- Call or request a callback. Tell us your brokerage and whether you have a PREC.
- Bring your records to our Surrey office. We go through them with you and tell you what is missing.
- We prepare and file. You review both returns before filing, and you keep copies.
Fees
Fees depend on whether there is a corporation and the state of the records. We tell you the fee before we start.
Common questions
Can you help if my PREC is already incorporated?
Yes. Most of the PREC work we do is for corporations that already exist. Bring the corporate records and last year's T2 and we take it from there.
Can you prepare both the corporate and personal returns?
Yes. The two returns depend on each other. We prepare them together and explain how what the corporation paid you shows up on your personal return.
Should I set up a PREC?
It depends on your income, your costs and how you run your business. A PREC also has extra reporting and licensing costs. We can talk through the tax side. Setting one up involves BC Financial Services Authority rules and legal steps. Those are separate from our service.
My records are a mess. Can you still do the return?
Yes. We bring the books up to date first, separate personal from business, and then prepare the return. Say so when you call and we will quote for both parts.
How is the fee set?
It depends on whether there is a corporation, how many transactions there are, and whether the books are up to date. We tell you the fee before we start.
Can I speak to someone in Punjabi?
Yes. Tell us your preferred language when you call or request a callback.
Related services
This page describes our service in general terms and is not advice about your individual situation. Deadlines and rules referenced apply to the 2025 tax year unless stated otherwise.