How much does an accountant cost in Ontario?

How much does an accountant cost in Ontario?

There is no single Ontario price for an accountant. Fees depend on what you need done, how complete your records are and what type of entity you have. The most reliable answer is a published price for a defined service, so here are Sora’s, as published on its service pages: a basic T1 personal return is $125 per return, a T1 business return is $465 per return, a corporate return is $1,425 per return, HST is $375 per service, and payroll is $50 per filing.

Monthly bookkeeping starts at $50 per month. That starting price is for minimal transactions, and monthly pricing is based on transaction volume, so a busier business will pay more than the starting amount.

These are Sora’s prices only. Other firms set their own, and a fee quoted without a clear scope is hard to compare. The sections below explain what moves a price up or down and what to ask before you agree to one.

Accountant fees in Ontario: what drives the price

Complexity is the largest factor. A return with one employment slip takes far less judgment than one with self-employment income, rental properties, foreign property or the sale of an asset. The same is true for a business: more bank accounts, more suppliers and more unusual transactions mean more time spent sorting out what each one is.

Records quality comes next. An accountant working from organized statements, invoices and receipts can move quickly. One working from a shoebox, a partial export or a bank feed with unexplained items must first reconstruct what happened. That reconstruction is work, and it is usually the part you can most easily reduce.

Entity type matters because each has its own filings. A sole proprietor reports business income on the personal return. A corporation files a separate corporate return, often with financial statements, and its owner usually also files a personal return. A business that collects HST or has employees adds sales tax and payroll filings on top.

Catch-up work and deadlines also affect cost. Several unfiled years, or a return needed in days rather than weeks, take more effort than one prepared on a normal schedule. Late filing can also bring CRA penalties and interest, which are a cost of their own.

Cost of a personal tax return accountant

Sora publishes two personal return prices: $125 per return for a basic T1 personal return and $465 per return for a T1 business return. Those are the labels Sora uses, and the practical question is which one applies to you.

A return with only employment slips and standard credits is the simplest case, while business or self-employment income adds work. When you ask any accountant for a quote, describe every income source up front and ask which tier of return it falls into, so the price is not revised once the work starts.

Filing dates also matter. For 2026 income, most individuals file by April 30, 2027. If you or your spouse or common-law partner carried on a business, the filing date is generally June 15, 2027, but any balance owing is still due April 30, 2027. Exceptions apply, including for certain tax shelter investments.

What is and is not included in a fee

A fixed price covers the service named, not everything around it. Before you agree, ask for the scope in writing. Common items that may sit outside a basic return or filing price include cleaning up unreconciled books, preparing prior years that were never filed, responding to CRA letters or reviews, amending a filed return and tax planning advice.

The same applies to other filings. An HST price covers the HST service, a payroll price covers a payroll filing, and a corporate return price covers the return. Financial statements, bookkeeping and advice may be priced separately or bundled, depending on the firm. None of this is unusual, but you should know which it is.

Also ask what happens if the scope changes midway. A good answer explains how you will be told before extra work begins, rather than after.

Questions to ask any accountant before you hire them

Use these questions to compare quotes on equal terms, whoever you are speaking to. Is the price fixed, hourly or based on volume, and what exactly does it cover? Which return or filing type does my situation fall into?

What do you need from me, and by when? What happens if my records are incomplete or arrive late? Are CRA letters, amendments and questions during the year included or billed separately?

Who will prepare the work and who will review it? How will you tell me before the scope or price changes? What happens if a deadline is missed? The answers tell you as much about how the firm works as the number itself.

How to prepare and keep your accounting costs down

Send records complete and organized the first time. Bank and credit card statements for the whole period, sales and purchase invoices, payroll reports, HST filings, prior returns and any CRA letters let the accountant start work immediately instead of chasing gaps. Keep your records as the CRA expects, and ask what format your accountant prefers.

Reconcile or categorize transactions through the year rather than all at once at year end. Monthly bookkeeping spreads the effort and makes year-end filings simpler.

Know your due dates and start early. A corporation must file within six months of the end of its tax year. HST returns for monthly and quarterly filers are due one month after the reporting period ends, and for most annual filers three months after the fiscal year-end. Early starts can avoid rush charges and reduce the risk of CRA penalties and interest.

If you are behind, say so at the first conversation and list every period involved. Accurate scoping up front is cheaper than discovering missing years halfway through. Bring any questions together in one message rather than many small ones, which also keeps the work focused.