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PricingService areasAll services →Accounting and Tax for Ontario Electricians and Electrical Contractors
Job costing, holdbacks, T5018, apprentices and equipment handled by a CPA-led accounting firm that understands how electrical contractors bill.
24/7 receptionist, a real person answers.
- Every return is reviewed by a CPA
- No surprise bills
- Reply within one business day
- 24/7 receptionist: a real person answers
- QuickBooks Online, Xero and Dext
- Rated 5.0 stars from 29 Google reviews (read our reviews)
T-Ledgers is a CPA-led accounting firm working with Ontario electricians and electrical contractors, from licensed sole proprietors to shops running residential, commercial and service crews. Wajahat Ajmal, CPA, FCCA, has been practising since 2020. We handle bookkeeping, HST, payroll and corporate and personal tax, and every return is reviewed by a CPA.
Electrical contractors deal with licensing, permits, progress billing, holdbacks and a large share of wages going to apprentices. Getting the bookkeeping right means your job margins, your HST and your year-end all line up.
Electrical tax and bookkeeping issues we handle
Rules, rates and thresholds change. We confirm the current figure for your situation on the call before relying on it.
Licensing and business setup
Electrical contractors in Ontario need a licence from the Electrical Safety Authority, with a master electrician designated for the business. Licence fees and related costs are deductible business expenses, and we record them so they aren’t missed.
Law: O. Reg. 570/05 under the Electricity Act, 1998 (licensing of electrical contractors and master electricians); Income Tax Act s.9(1) (business income).
Job costing and progress billing
We set up your books so each job shows its revenue, materials, labour and permits. Progress billing is recorded as you invoice, not when the cheque arrives, so your margins are accurate month to month.
Law: Income Tax Act s.9(1) (business income); Income Tax Act s.12(1)(a) and 12(1)(b) (amounts received in advance and amounts receivable).
Holdbacks
On construction contracts, 10% of each payment is usually held back until it becomes due. A holdback generally isn’t taxable as a receivable, and HST on it generally isn’t due, until it is paid or payable. We track holdbacks by job.
Law: Construction Act (Ontario) s.22(1) (10% holdback); Excise Tax Act s.168(7) (tax on retained consideration / holdbacks).
T5018 slips
If construction activities are your main source of business income, you generally report payments to subcontractors on T5018 slips. We keep the details current through the year.
WSIB in construction
Most businesses doing construction work in Ontario need WSIB coverage. We record premiums and help keep your clearance requirements in order.
Apprentices, payroll and tools
Electrician is a compulsory trade in Ontario, and apprentice wages are often a big part of payroll. We run payroll, check the federal apprenticeship job creation credit and remind employed electricians about the tradesperson’s tools deduction.
Law: Building Opportunities in the Skilled Trades Act, 2021 (Ontario) (compulsory trades); Income Tax Act s.153(1) (source deductions); Income Tax Act s.127(9) (“apprenticeship expenditure”); Income Tax Act s.8(1)(s) (tradesperson’s tools).
Vehicles and equipment
Vans, lifts, testers and tools go on your capital cost allowance schedule, with the business-use share tracked for vehicles. We keep an asset register so disposals and trade-ins are handled correctly.
Law: Income Tax Act s.20(1)(a) (capital cost allowance); Income Tax Regulations s.1100(1) and Schedule II (CCA classes); Income Tax Act s.13(1) (recapture).
Key rules at a glance
← Swipe to compare →
| Rule | What it means for you | Law |
|---|---|---|
| Electrical contractor licence | Licence required to operate as an electrical contractor | O. Reg. 570/05 under the Electricity Act, 1998 (licensing of electrical contractors and master electricians) |
| Construction holdback | 10% held back until due | Construction Act (Ontario) s.22(1) (10% holdback) |
| Holdback timing for HST | HST generally due when the holdback is paid or payable | Excise Tax Act s.168(7) (tax on retained consideration / holdbacks) |
| T5018 reporting | Report subcontractor payments if construction is your main income | Income Tax Regulations s.238 (T5018 construction payments) |
| WSIB in construction | Coverage is mandatory for most construction businesses | Workplace Safety and Insurance Act, 1997 s.12.2(1) (mandatory construction coverage) |
| Apprenticeship credit | Federal credit on eligible apprentice wages | Income Tax Act s.127(9) (“apprenticeship expenditure”) |
Who we work with
- Licensed electricians working on their own
- Residential electrical contractors
- Commercial and industrial electrical contractors
- Service and maintenance electrical shops
- Shops with apprentices and journeypersons
- Low-voltage and solar installation contractors
T-Ledgers services for electrical businesses
- T5018 and holdback tracking. Subcontractor slips and holdback schedules kept current through the year.
- Monthly bookkeeping. From $500/month (Scale), with books closed by the 10th; quarterly bookkeeping from $350/month (Growth). Your fixed fee is confirmed after a free call (see bookkeeping).
- Catch-up bookkeeping, from $1,800 per year. We rebuild past years and file what’s overdue (see catch-up bookkeeping).
- Bookkeeping Review, $195/month or $295/quarter. For owners who keep their own books.
- GST/HST returns, $150 per return. (see GST/HST services).
- Payroll. Quoted after a free call (see payroll services).
- Corporate (T2) and personal (T1) tax. Corporate returns quoted after a free call; personal tax returns from $110 + HST/GST, with your final price confirmed after a free call. Owner T1s can be prepared alongside the T2 (see corporate tax and personal tax).
- Virtual CFO, from $2,500/month. Cash flow, margins and growth decisions (see Virtual CFO).
Prices are + HST/GST. Anything without a listed price is quoted after a free call, and you get the price in writing before any work starts.
How we work with electrical businesses
- Free call. We ask about your licence, your mix of work, your crew and how your records are kept.
- Written price. Scope and price in writing before any work starts.
- Setup. Job tracking, holdback accounts, supplier feeds and Dext for receipts.
- Monthly rhythm. Books closed monthly, HST filed on time, payroll and subcontractor records kept current.
- Year-end. T5018, CCA, T2 and T1, all reviewed by a CPA.
Why electrical businesses choose T-Ledgers
- We know electrical contracting. Licensing costs, permits, progress draws, holdbacks and apprentice payroll are part of our normal conversation.
- CPA-led, start to finish. T-Ledgers was founded by Wajahat Ajmal, CPA, FCCA. Every return is reviewed by a CPA before it's filed.
- No surprise bills. You get the scope and the price in writing before we start. If the work changes, we agree the new price with you first.
- Price matching, agreed up front. Have a comparable written quote? Bring it to us before you sign your proposal. We can only match a price when it's agreed before the proposal is signed.
- Fast, human answers. We reply within one business day, and our 24/7 receptionist means a real person answers when you call 866-254-5368.
- In person or online. Meet us in person, by appointment only, at our Etobicoke office (102-89 Skyway Ave, Etobicoke, ON M9W 6R4) or our Mississauga office (100 Matheson Blvd E #204, Mississauga, ON L4Z 3P8), or work with us entirely online.
- Your software, set up properly. We work in QuickBooks Online and Xero, and use Dext so receipts go in with a photo.
Meet your CPA
Wajahat Ajmal, CPA, FCCA, Founder, T-Ledgers Accounting. Verify my CPA Ontario membership.
I started my career as an audit associate at KPMG. Since then I’ve worked as an independent contractor for a tax filing company, preparing returns and handling client questions. I hold a BSc in Applied Accounting from Oxford Brookes University and an MSc in Professional Accountancy from University College London. I’m a Chartered Professional Accountant in Ontario and a Fellow of the ACCA. I started taking on my own clients in 2020 and founded T-Ledgers in 2023.
Every return the firm files is reviewed by a CPA. You can read more about the firm on our About page.
What our clients say
Read more on our client reviews page.
DIY vs a generalist firm vs T-Ledgers
← Swipe to compare →
| DIY | Generalist firm | T-Ledgers BEST VALUE | |
|---|---|---|---|
| Holdbacks | Taxed too early | Often missed | ✓Tracked by job; HST and income timed correctly |
| Apprentice payroll and credits | Credit often missed | Payroll only | ✓Payroll run and apprenticeship credit checked |
| Job margins | Known at year-end, if at all | Year-end only | ✓Monthly job-level reports |
| Who checks the return before it's filed | You do | Depends on the firm and who's assigned | ✓Every return is reviewed by a CPA |
| How you're billed | Software fees plus your own time | Often hourly; the final bill can vary | ✓Scope and price in writing up front. No surprise bills |
| Getting an answer | Search online or wait on CRA phone lines | Varies by firm | ✓Reply within one business day; 24/7 receptionist, a real person answers |
| Software | Whatever you set up yourself | May ask you to switch to their system | ✓QuickBooks Online, Xero and Dext |
| Meeting face to face | Not applicable | Varies | ✓In person by appointment in Etobicoke or Mississauga, or fully online |
| Price matching | Not applicable | Rare | ✓Available if agreed before you sign your proposal |
Frequently asked questions: Electrical
Generally when it becomes due. HST on a holdback is generally due when it’s paid or payable.
If construction activities are your main source of business income, generally yes, for payments to subcontractors.
Yes. Job-level reports show revenue, materials, labour and permits for each job.
Yes, licence and permit costs are business expenses.
Most construction businesses in Ontario do. We record premiums and help with clearance requirements.
It can make sense once profits are steady. We run the numbers with you first.
Yes, a federal credit on eligible apprentice wages in the first two years. We check it every year.
QuickBooks Online Payroll or Wagepoint.
Employed tradespeople may be able to deduct part of the cost of new tools they must supply.
Yes, as input tax credits, as long as you keep the supplier invoices.
Through capital cost allowance, by class. We keep an asset register so nothing is missed.
Yes. We rebuild the records and file what’s overdue in the right order.
GST/HST returns are $150 per return, catch-up bookkeeping starts from $1,800 per year, the Bookkeeping Review is $195/month or $295/quarter (from $450 per review for complex books). Payroll and corporate (T2) returns are quoted after a free call. Personal tax returns from $110 + HST/GST, with your final price confirmed after a free call. Prices are + HST/GST. You get the price in writing before any work starts.
Yes, if you have a comparable written quote and bring it to us before you sign your proposal. We can only match a price when it’s agreed before the proposal is signed.
Yes. Snap receipts with Dext, share documents through our client portal and talk by phone or video. You can also meet us in Etobicoke or Mississauga by appointment.
Book a free call through our contact page or call 866-254-5368. We reply within one business day.
Wire up books that work as hard as you do
Book a free call to talk about job costing, holdbacks and apprentices. We reply within one business day, and a real person answers 24/7 at 866-254-5368.
Reviewed by Wajahat Ajmal, CPA, FCCA. Updated October 15, 2026.
Related services: Bookkeeping · Catch-up bookkeeping · Corporate taxes · Personal tax · Payroll · Virtual CFO · Contact us
Related industries: Construction · HVAC · Self-employed · All industries
Rates and thresholds change, so we link to the official sources for current figures.