Accounting for general contractors in Hamilton
General contractors manage subs, holdbacks, and progress draws across long projects. In Hamilton, taxifi handles it online: books current every day, filings on time, and a Canadian accountant reviewing and signing every file.
CRA EFILE authorized · Every file reviewed by an accountant · Switching is free — about an hour of your time
General Contractors in Hamilton, books handled
Hamilton blends established trades and manufacturing with a growing wave of new owner-operated businesses across the city.
For general contractors specifically, taxifi covers the work below as part of one flat monthly price, with Ontario’s HST, WSIB, and Employer Health Tax handled inside the service:
- Progress-billing and holdback tracking
- T5018 subcontractor slips prepared and filed
- Crew payroll and WSIB-ready records
- HST input tax credits on materials and equipment
What we take off a Hamilton general contractor’s plate
Holdbacks and progress draws
Construction holdbacks distort what you think you've earned. We track them so your revenue and receivables reflect what you're actually owed and when.
T5018 subcontractor reporting
Every sub payment is tracked through the year and the T5018 slips are prepared and filed on time, with records behind each number.
HST across materials and equipment
Input tax credits on materials, rentals, and equipment are captured on every transaction so your net HST is accurate.
Why Hamilton general contractors choose taxifi
Hamilton's economy has manufacturing bones and a renovation-era present: older housing stock being rebuilt street by street, waterfront and downtown redevelopment, and GTA spillover bringing new customers — and new competition — up the escarpment. It is a growth market that rewards businesses ready to scale cleanly.
General contractors here carry the same load as anywhere: holdbacks, progress draws, and a bench of subs spread across multiple active jobs. What changes with taxifi is that the books are current every single day and an accountant signs everything — which means every job closes with its true margin on record instead of a best guess.
Common questions
How do construction holdbacks work for tax purposes?
Ontario's Construction Act requires a 10% holdback on construction contracts, and holdbacks have their own timing for tax — notably, HST on a holdback amount is generally not due until the holdback becomes payable, not when you first invoice. Books that track holdbacks separately keep that timing right automatically; books that don't overpay early or underpay late.
Which of my subcontractors go on T5018 slips?
For a business whose primary activity is construction, payments to subcontractors for construction services get reported on T5018s — incorporated or not, which catches people used to the T4A rules. taxifi keeps a running record of every sub payment on every Hamilton job, so slip season is an export rather than an archaeology dig through e-Transfers.
We're growing with Hamilton. Can taxifi scale as we do?
That is the design. The flat monthly price is quoted for the size you are now and revisited as you grow — adding payroll when you hire, HST filings as volumes rise, and advisory when the decisions get bigger. Growing Hamilton businesses shouldn't outgrow their bookkeeping every eighteen months.
I already have a bookkeeper or accountant in Hamilton. How hard is switching?
The switch is free: we deal with your current provider directly, collect your file and history, and take over the monthly work. Any catch-up is scoped and priced before you commit. Your part is about an hour, and mid-year is fine.
Your Hamilton general contractor, books and taxes handled
One flat monthly price for incorporated Ontario businesses, quoted live on a short call.
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