Accounting for mortgage brokers in Ontario
Mortgage brokers earn commission income that can be lumpy, split with agents, and needs careful expense tracking to keep the corporation efficient.
CRA EFILE authorized · Every filing signed by an accountant · Switching is free — about an hour of your time
taxifi · Mortgage Brokers
This month
- Bookkeeping Current
- Payroll & source deductions Filed
- HST Filed
- Year-end tax (T2) On track
The problems we take off your plate
Commission income in bursts
Deal-driven income is lumpy. We keep the books current so tax is set aside as commissions land, not scrambled for later.
Agent splits
Payments and splits with your agents are tracked cleanly against what they write.
Expenses that keep the corp efficient
Marketing, leads, and office costs are tracked and documented so you claim everything you're entitled to.
What’s included
Published prices for incorporated Ontario mortgage brokers. Everything below is handled.
- Commission-income bookkeeping
- Agent split tracking
- HST returns prepared and filed
- Owner compensation planning with your accountant
- Year-end corporate tax (T2), from $1,000 a year
| 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 |
Exempt commissions mean unrecoverable HST
Arranging a mortgage is generally an exempt financial service, so brokerage commission income typically carries no HST. The consequence most brokers underestimate is the other side: exempt suppliers generally cannot claim input tax credits, so the HST inside your CRM, marketing, rent, and lead generation is a permanent cost rather than a recoverable one.
Income timing is the second theme. Commissions arrive in lumps tied to closings while your expenses run continuously, which makes tax instalments a real planning problem — a strong year can create instalment obligations the following year that a slower year has to fund. Books that are current let your accountant size set-asides against reality rather than last year's success.
Common questions
Can you handle irregular commission income?
Yes. We keep the books current so tax is set aside even when income is lumpy.
Do you work with incorporated brokerages?
Yes. Incorporated mortgage brokers are a core fit.
Do mortgage brokers charge HST on commissions?
Generally no — arranging a mortgage is normally an exempt financial service. Because exempt suppliers generally cannot claim input tax credits, the HST on your brokerage overhead should be budgeted as a true cost. Any fee-based services outside the exempt category may change the analysis.
How do I plan for tax on irregular commission income?
By working from current books rather than last year's total. CRA sizes instalment obligations from your recent history, so a strong year can create payments due in a slower one. Monthly bookkeeping lets your accountant set aside the right amount as the year develops instead of reacting to a notice.
Books and taxes for your mortgage brokerage, done
Bookkeeping from $99 a month, accountant-reviewed from $299, corporate T2 from $1,000 a year. Prices are published; a call confirms the fit.
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