Serving thousands of condos in Canada, Accounting for Condo is the leading tax service provider for condos. We're a team of accounting experts that specialize in condos.
Condo tax returns are prepared by professional accountants that specialize in condos.
We leverage integrated software solutions with features that are unique to condos to make condo tax returns a breeze.
Online infrastructure is configured for condos and are guarded and secured with bank-grade security.
Flat-fee pricing applies to returns for each condo.
In principle, because of its non-profit activities, a condo corporation is exempt from taxes for the common expenses it collects from the co-owners. It must be understood that all this money is not distributed to the co-owners, nor is it made available to them personally. Rather, it must be used for the conservation of the corporation and the administration and maintenance of its common areas.
A condo corporation is first and foremost a corporation subject to the same filing requirements as other types of corporations, whether for-profit or not-for-profit. A corporation's status as a non-profit organization is independent of this reporting requirement.
While most income generated by a condominium corporation is tax-exempt, some sources of income may be taxable. This is the case, for example, when a condominium corporation sells the concierge's condo unit that was owned by the corporation. Or when the condominium corporation carries on commercial activity. In this case, it is important to complete the tax returns correctly.
If you are a member of the co-owners' board of directors and need help filling out the forms, the use this service and our specialists will be advantageous to you.
Accounting for Condo specializes in tax returns and remote accounting for condominium corporations and will make it easier for you to manage your homeowners and board of directors. Serving thousands of corporations in Canada, Accounting for Condo is the main provider of tax services for condominiums. We are a team of accounting experts specializing in condominiums.