Tax and CRA

Due September 30, 2026. Applies to The strata corporation, plus a desk for owner taxes the strata does not pay.

A strata is a corporation. It files even when it owes no tax. Owners file vacancy taxes on their own lots. Mixing those two jobs is how councils scare people, or miss a deadline.

Legal name

The Owners, Strata Plan LMS 2847

Business number

847362915

Corporate account

847362915 RC0001

Payroll account

847362915 RP0001

GST account

No GST account

Year end on the returns due today

March 31, 2026

Year you are living in

April 1, 2026 – March 31, 2027

Next T2 / T1044

September 30, 2027

Accountant

North Shore Tax Co-op (demo) — compilation, T2, and T1044

Do it in this order

1. Separate the strata’s own returns (T2, T1044, payroll, maybe GST) from owner returns (UHT, SVT, Empty Homes Tax, property tax).
2. Today’s job is the year that already ended. Do not wait for March 2027 to file March 2026.
3. Open the drafted T2 and T1044, read the one-page 149(1)(l) memo, and have council release them to North Shore Tax Co-op before midnight.
4. Leave owner-tax letters for the weekend. Lots 106, 201, 309, 404, and 406 are the ones that need a note. The strata still does not file those returns.
5. Put the next six deadlines on the council calendar before you adjourn: October 15 payroll, December 31 EPR, February 28 T4/T4A, March 31 SVT, April 30 UHT checkpoint, May 19 AGM.

Checklist

• Done BN and program accounts match the CRA letters in the minute book
• Done Prior-year statements compiled
• Done T2 drafted, tax payable $0
• Done T1044 drafted
• Open Council has released the returns for e-file
• Open Owner-tax reminder list printed

Due Review January 15, 2027. Applies to The strata, only if it makes taxable supplies over the small-supplier line.

Residential strata fees are an exempt supply. You do not add GST to the monthly fee, and you do not get the GST back on the hydro bill, the insurance, or the elevator contract. That GST is just part of the cost.

Due September 30, 2026. Applies to The Owners, Strata Plan LMS 2847.

The T2 is due six months after year end. Year end was March 31, so today is the day. Tax is zero because the corporation claims the non-profit exemption in s.149(1)(l). Zero tax does not cancel the return.

Year being filed

April 1, 2025 – March 31, 2026

Revenue

$323,640.00

Operating expenses

$268,200.00

CRF contribution

$42,000.00

Excess kept in the funds

$13,440.00

Taxable income after 149(1)(l)

$0.00

Tax payable

$0.00

Balance-due date

Two months after year end — already passed, and nothing was owing

Preparer

North Shore Tax Co-op, engagement signed May 22, 2026

Do it in this order

1. Print Schedule 100 (balance sheet) and Schedule 125 (income statement) from the compiled statements. Assets were $689,680.00. Fund balances were $683,840.00.
2. Show revenue of $323,640.00, operating expenses of $268,200.00, and the CRF contribution of $42,000.00. The excess of $13,440.00 stayed in the funds.
3. Do not invent shareholders. A strata created under the Strata Property Act has no share capital. Leave share schedules blank and write that in the note to the preparer.
4. Attach the 149(1)(l) memo: the corporation exists to maintain common property, income is not payable to owners, and council has not distributed a surplus. Parking and interest were used for the building, not paid out.
5. The war chest is a corporate asset bought with operating surplus. It is disclosed at cost, with fair value in a note. It was not bought with CRF dollars, and it was not distributed to owners.
6. Council reads the jacket, the two schedules, and the memo, then tells the accountant to e-file. One person does not file it from a kitchen table.
7. Save the confirmation number in the minute book next to the May 20, 2026 resolution that waived a review engagement.
8. The year now underway is not this return. Its T2 is due September 30, 2027.

Checklist

• Done Schedule 100 drafted and tied to the three bank accounts
• Done Schedule 125 drafted
• Done 149(1)(l) memo signed by the treasurer
• Done No shareholder schedule
• Done War chest disclosed at cost, CRF not used to buy it
• Open Council release recorded
• Open E-file confirmation stored

Due September 30, 2026. Applies to This strata, because last year’s assets were over $200,000 and passive receipts were over $10,000.

An NPO files a T1044 when assets at the end of the previous year were over $200,000, or when interest, dividends, rentals, and royalties were over $10,000, or when it had to file one before. This building trips both money tests. The CRF is why almost every mature strata files this.

Assets at March 31, 2026

$689,680.00

Interest plus parking

$10,520.00

Asset test

Over $200,000 — must file

Passive-income test

Over $10,000 — must file

Paid to members

$0. Council is volunteer.

Owing to members

$0

Due

Six months after year end, same day as the T2

Do it in this order

1. Copy the asset total from Schedule 100. Do not leave the CRF off because it “belongs to the future.” It is an asset of the corporation.
2. Copy interest and the parking receipts into the passive-income line. CRF interest counts.
3. Answer the member questions as zero. No council stipend, no gift cards, no “thank you” cheques. If you want to pay a council member, stop and reread the exemption before you do it.
4. Describe the purpose in one sentence: operation and maintenance of the common property of LMS 2847.
5. File it with the T2. Store both confirmations together.
6. Expect to file again next year. Once you have filed, the “had to file before” test keeps you in, and the CRF will still be over $200,000.

Checklist

• Done Asset figure matches Schedule 100
• Done Passive income matches the general ledger
• Done Member remuneration is zero
• Done Purpose sentence matches the strata plan, not a business
• Open E-filed

Due Remit by October 15, 2026 if CRA set you as monthly. Applies to Samira El-Masri, the only employee. The caretaker is not on payroll..

Hiring one part-time concierge opened an RP account. September has been paid. The deductions are a liability until they are remitted. T4s are a February job, not a September job.

Due February 28, 2027. Applies to Service contractors the strata paid, generally where the amount is $500 or more.

A T4A is how CRA sees payments to people who are not on payroll. The caretaker, the accountant, and the lawyer are the slips this building should expect. Construction contractors can have a different slip. Ask before you assume a T5018.

Due April 30 checkpoint for affected owners. Applies to Owners who are not excluded owners. Not the strata corporation, unless it owns a residential lot..

UHT is a federal 1% tax aimed at vacant or underused housing, mainly foreign owners and some corporations, partnerships, and trusts. Since the 2023 changes in Bill C-69, most Canadian individuals are excluded owners and do not file. The strata’s job is to know who might still be affected and to hand them occupancy dates. CRA’s “who must file” page, reviewed here as published through late 2025, is the source. Confirm it again before the next April.

Due March 31, 2027 for the 2026 calendar year. Applies to Each owner. Vancouver is in a specified area. The strata corporation does not declare and does not pay..

Owners declare every year, generally by March 31. Tax, if any, is due on the first business day of July. In 2026 that weekday landed on July 2. Exemptions turn on how the home was used: principal residence, a real tenancy, and a list of others. The rate depends on who the owner is. The strata should not quote a rate.

Due Working date February 2, 2027. Applies to Each owner of a residential lot in the City. Not the strata..

The City taxes homes that sit empty. Owners declare each year. The 2025 tax year was due February 3, 2026. Most of this building declared a principal residence. A few cannot say that. The City sets the next due date in a bylaw notice. February 2, 2027 is a placeholder until that notice is in the minute book.

Due The City’s July tax due date, on each owner’s bill. Applies to Each strata lot’s owner. PST is on some vendor bills, not a tax the strata collects..

Property tax follows the lot, not the strata plan. The strata does not collect it and does not pay it, because this corporation does not own a taxable lot. PST is different: it is buried in some invoices and it is not a balance you remit.

Due Quarterly payroll report follows the classification letter. Applies to Samira’s wages. Not the caretaker, while he remains an independent contractor with his own certificate..

The moment the strata had a worker, it needed an account. The caretaker already invoices with a clearance letter. Those are different facts and they should stay different.

Due Rolling. Applies to Returns, ledgers, minutes, Form K, and the war-chest records.

CRA generally wants records for six years from the end of the tax year they relate to. The Strata Property Act has its own list, and some of it is permanent. Keep whichever period is longer. A buyer in 2030 will ask for the 2026 Form B backup.

Due AGM by May 31, 2027. T2 and T1044 by September 30, 2027.. Applies to The fiscal year that is open now.

The close is a checklist, not a mood. March 31 cuts the year. The AGM has to happen within two months. The tax returns follow six months after year end. Doing those in that order is the whole job.