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Adjusting your tax settings
Adding/Updating Brokerage Tax ID Head to your Brokerage menu (the menu with the gear cog), click Edit Settings Add/update your Brokerage's Tax ID Turning on Tax Reporting In your Brokerage Menu>Settings, scroll down to the Allowable tax year field ...
Tax Prep Checklist
Navigating your tax forms, updating your agent’s contact information, isn’t rocket science but it can be overwhelming! Being well prepared is the difference between peace of mind or utter chaos! We’ve put together a checklist that will guide you ...
Canada: Preparing T4A Reports
** Loft47 generates information to create T4A information, we do not file this information with CRA. ...
How to Adjust Penny Rounding Errors on Sales Tax on a deal.
Penny Rounding Differences From time to time, one cent (penny) rounding difference may occur between collected and paid-out amounts. This happens because different software systems may apply rounding in slightly different ways, which can result in a ...
SK tax in Loft47 - How to deal with List side deals
On List side deals in Saskatchewan the Listing brokerage is responsible for collecting the full amount of sales tax 11% which is made up of 6% PST and 5% GST. To enable this to happen in Loft47 the following steps must be taken IN LOFT 1. UPDATE ...