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Agent & Outside Brokerage auditing for tax reporting
Scouring through your Brokerage's people's page to check each agent, their organization, and Outside Brokerage profile(s) are up to date can be daunting. The easiest way is to head to Reports> Tax Returns Report, choose the year you're reporting ...
Canada: Preparing T4A Reports
** Loft47 generates information to create T4A information, we do not file this information with CRA. See filing information here. For the full tax preparation checklist, click here Tax Settings (Turn on Reporting) Turn on your reporting by adding the ...
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 ...
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 ...
Adjusting your Deductions for Tax Reporting
Determining How you will Report Whether you're reporting Gross, Full or Partial NET Commissions, you will have to adjust each deduction accordingly to how you will be reporting. Here's the definitions for all three ways to report: Gross Commissions ...