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Blue Ocean Professional Corporation
CPA, Chartered Professional Accountants Free Consultation
INDUSTRIES · 14

Accounting for education & training services

Tutoring centres, career colleges, driving schools, coaches and trainers.

HSTWhich courses are exempt and which are taxable, sorted out before you invoice
InstructorsEmployee or contractor status reviewed for every instructor
Prepaid feesTuition paid in advance recorded as it's earned
WHAT WE HANDLE

The work that comes with your industry.

HST on tuition

Tutoring, vocational training and general courses each have their own HST rules. We apply the right one.

Instructor payroll and contracts

Instructors set up correctly as employees or contractors.

Prepaid tuition

Fees received in advance tracked and recognized as courses are delivered.

Student billing

Receivables, payment plans and refunds kept current.

Grants and funding

Funding recorded and reported the way the program requires.

Year-end and tax

Financial statements and your T2.

COMMON QUESTIONS

What education clients ask us

Are my courses exempt from HST?

Some are, such as certain tutoring in school-curriculum subjects and vocational training from qualifying schools. Others are taxable. We review your course list.

How do I record tuition paid in advance?

As a liability when it's received, then as revenue as you deliver the course. That keeps your profit, and your tax, accurate.

Do you work with individual tutors?

Yes. We help individual tutors and coaches as well as incorporated schools.

Ready for an accountant who knows your industry?

Mississauga, ON · St. Petersburg, FL · info@blueocean.tax

Free Consultation 416-828-7462