Accounting for general contractors in Ontario
General contractors manage subs, holdbacks, and progress draws across long projects. Construction holdbacks and T5018 reporting are where most books fall behind.
CRA EFILE authorized · Data stored in Canada · Every file reviewed by an accountant
taxifi · General Contractors
This month
- Bookkeeping Current
- Payroll & source deductions Filed
- HST Filed
- Year-end tax (T2) On track
The problems we take off your 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.
Crew payroll and WSIB
Payroll and source deductions run on schedule, T4s are ready at year-end, and your records stay WSIB-ready.
What’s included
One flat monthly price for incorporated Ontario general contractors. Everything below is in it.
- 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
- Year-end corporate tax (T2), included
| Area | A typical setup | With taxifi |
|---|---|---|
| Your books | Weeks or months behind | Current every day |
| Year-end (T2) | A spring scramble, billed extra | Included, no surprise invoice |
| Your accountant | Metered by the hour | Unlimited questions, flat monthly |
Common questions
Do you understand construction holdbacks?
Yes. Holdbacks are tracked so your revenue and receivables reflect what you're actually owed and when.
Can you file my T5018s?
Yes. Every sub payment is tracked and the slips are prepared and filed on time.
Books and taxes for your general contractor, done
One flat monthly price for Ontario businesses, scoped on a discovery call.
Book a discovery call