Accounting for general contractors in Kitchener-Waterloo
General contractors manage subs, holdbacks, and progress draws across long projects. In Kitchener-Waterloo, 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 Kitchener-Waterloo, books handled
Kitchener-Waterloo's tech and startup density sits alongside a strong base of trades and professional firms, all needing clean, investor- and CRA-ready books.
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 Kitchener-Waterloo 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 Kitchener-Waterloo general contractors choose taxifi
Waterloo Region is three cities behaving like one market, with the tech corridor's growth spilling into every local trade and service business around it. New buildings, new households, and new companies all need local businesses — and local businesses that know their numbers grow with the region instead of just getting busier.
For Kitchener-Waterloo's general contractors, the day-to-day reality is holdbacks, progress draws, and a bench of subs spread across multiple active jobs. taxifi's AI keeps the books current every day and a Canadian accountant reviews and signs the filings, so every job closes with its true margin on record instead of a best guess.
Common questions
What does CRA see when I bill jobs in progress draws?
Progress billings, deposits, and work-in-progress each affect when income shows up for tax, and a GC's real position is invisible without job-level books — a year can look profitable or terrible depending purely on billing timing. Job costing that is current every day is what makes both your taxes and your quotes honest.
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.
Do you need me to come to an office in Kitchener or Waterloo?
No — there is no office visit anywhere in the process. Bank feeds are read daily, documents move through the portal, questions get answered by a person, and the accountant reviews and signs everything remotely. It works the same in Kitchener, Waterloo, or Cambridge.
I already have a bookkeeper or accountant in Kitchener-Waterloo. 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 Kitchener-Waterloo general contractor, books and taxes handled
One flat monthly price for incorporated Ontario businesses, quoted live on a short call.
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