Realtor bookkeeping · Edmonton
Bookkeeping for Edmonton realtors: keep more of every commission.
Commission splits, GST, tax instalments and the deductions agents miss, explained in plain English for Edmonton, St. Albert, Sherwood Park and area.
By the Plum team- Updated Oct 2026
- 9 min read
- Put every dollar of GST you collect straight into a separate account. It was never yours.
- Set aside 25 to 30% of what's left for income tax and CPP until your accountant tells you otherwise.
- If you owed more than $3,000 last April, pay quarterly instalments: Mar 15, Jun 15, Sep 15, Dec 15.
- Keep a vehicle log. It's the deduction agents lose most often.
A good closing in Edmonton feels like payday. Then the cheque lands and the questions start: how much of this is the brokerage's, how much is GST, how much will CRA want in April, and what can I actually spend? Most agents across Edmonton, St. Albert and Sherwood Park don't get stuck on selling. They get stuck because commission income arrives in lumps and the tax bill arrives all at once.
This guide walks through the money side of being a realtor in the Edmonton region: where a commission goes, how GST works for you, when tax instalments are due, and the deductions agents miss. Drag the sliders in the calculator below to see your own numbers.
1Where a commission actually goes
Your gross commission isn't your income. Before you see a dollar, the brokerage takes its split (or desk and transaction fees on a 100% model). GST rides on top of what you earn, and it belongs to CRA. What's left still carries income tax and both halves of CPP, because as a self-employed agent you're the employee and the employer.
Commission calculator
Slide to match your deal. Rough numbers to plan with, not tax advice.
- Brokerage split$2,480
- GST collected (CRA's)$496
- Deal expenses$900
- Set aside for tax$2,435
GST is shown separately because it sits on top of your commission and goes to CRA. Your real tax depends on your full year, so check the set-aside with your accountant.
2GST for Edmonton realtors
Alberta has no provincial sales tax, so you only deal with the 5% GST. You must register once your taxable revenue passes $30,000 over four consecutive calendar quarters, and nearly every working agent does. From then on you charge GST on your commission, collect it, and send it to CRA, minus the GST you paid on business costs (your input tax credits).
Most agents file GST annually or quarterly. Annual filing means one return, but a bigger cheque at once; quarterly keeps each payment smaller. If you also earn GST-exempt income, for example from residential rents, keep it clearly separate in your books.
3Quarterly tax instalments
Because nobody withholds tax from your commissions, CRA asks for instalments once your net tax owing is more than $3,000 this year and in either of the previous two years. If you get an instalment reminder, these are the dates. Tap each one once it's paid.
Tap a date to stamp it paid.
Two more dates matter: as a self-employed agent you can file your return by June 15, but any balance owing is still due April 30. Interest runs from April 30 even if you file in June.
4Deductions Edmonton agents miss
Tick the ones you already track. Anything left unticked is likely money left on the table.
The vehicle log
Showings in Windermere, a listing appointment in St. Albert, an open house in Sherwood Park: Edmonton agents drive a lot, and the vehicle is often the biggest deduction. CRA expects a logbook showing business versus personal kilometres. Once you have one full year logged, CRA lets you keep a shorter three-month sample log in later years, as long as your driving stays similar.
Meals and client gifts
Business meals are generally 50% deductible. Keep the receipt and write who you met and why on it. Closing gifts are deductible when they're reasonable and for the business; an inexpensive gift basket is easy to defend, a weekend in Jasper is not.
5A simple monthly system
- One business bank account and one card. Nothing personal runs through them.
- Three buckets when a commission lands: GST, tax and yours.
- Match every commission statement to its deposit, so splits and fees are recorded correctly.
- Monthly bookkeeping in QuickBooks Online or Xero, closed by mid-month.
- A quick review before each instalment date so the amount reflects how your year is actually going.
That's exactly what we do for realtors on our flat-fee plans: every commission statement matched, GST tracked and filed, instalments planned ahead, and a plain-English report each month showing which deals made money. If your books are behind, our catch-up service gets you current fast.
Serving realtors across the Edmonton region
We work remotely with agents and teams in Edmonton and the surrounding communities, including:
6Questions realtors ask
Do Edmonton realtors have to charge GST?
Once your taxable revenue passes $30,000 over four consecutive calendar quarters you must register, and in practice almost every working agent is registered. You charge 5% GST on your commission and remit it, minus the GST you paid on business expenses.
When are tax instalments due for self-employed realtors?
March 15, June 15, September 15 and December 15. CRA asks for them when your net tax owing was more than $3,000 this year and in either of the two previous years.
How much should a realtor set aside for tax?
Keep all GST you collect separate, and as a starting point set aside 25 to 30% of what's left after your split and expenses for income tax and CPP. Your accountant can fine-tune the number.
What can a real estate agent in Alberta deduct?
Brokerage and desk fees, RECA licensing, board dues, marketing and listing costs, staging, the business part of your vehicle and phone, reasonable client gifts, continuing education and a home office if you qualify.
Should I incorporate as a realtor in Alberta?
It can help once your income is well above what you spend, but whether commissions can be paid to your corporation depends on the current Real Estate Council of Alberta (RECA) rules. Incorporating also adds costs and paperwork, so check with RECA and your accountant before you switch.
Want this off your plate?
Realtor bookkeeping on one flat monthly fee. Commissions matched, GST filed, instalments planned.
Book a free 15-min callThis guide is general information for Alberta real estate agents and isn't tax advice. Rules and thresholds change, so confirm your situation with your accountant or CRA.