Transport and Trucking Accountant

In Quebec, keeping a truck on the road is expensive even before the first profitable kilometer: fuel often eats up a quarter to a third of operating costs, per-kilometer rates vary from one client to another, and net margins are measured in a few percentage points. Between quarterly IFTA reports, IRP plates, odometer readings, the spring thaw that reduces expenses, and the depreciation of a tractor unit, a carrier's accounting is unlike that of any other business.

We'll introduce you to a trucking expert, free of charge: Category 16 pre-authorization deductions (PADs) for tractors and heavy trucks, 80% meal allowances for long-haul trips, VAT-free international freight, driver payroll, and the pitfalls of the "employee-owned" model. The right match for your fleet, as many introductions as needed, and we'll be there to support you. No obligation.

• Slim net margins, often just a few percentage points: every cent of the kilometer rate counts.
• Fuel often represents a quarter to a third of operating costs, with volatile pump prices.
• Heavy capital investments: a road tractor is financed over several years and its capital cost allowance (CCA) must be planned, not endured.
• The trap of the "incorporated driver" (Driver Inc.): possible reclassification as a personal services company, loss of the DPE and a hefty tax bill.
• Multi-jurisdictional compliance as soon as you leave Quebec: quarterly IFTA, IRP plates, taxes of the provinces and states crossed.
• Seasonality and the thaw: load restrictions in the spring and a lull in activity that stretches cash flow.
• Debt collection: clients who pay in 45, 60, sometimes 90 days while fuel is paid for in cash.

• VAT (5%) and VAT (9.975%) on domestic transport; international freight and interline between carriers are tax-exempt, hence CTI and RTI to be recovered.
• Quarterly IFTA reports to the Canada Revenue Agency for eligible vehicles that are driven outside Quebec: fuel tax allocated by territory.
• DPA: category 16 (40%) for tractors and trucks designed for freight over 11,788 kg; category 10 (30%) for other vehicles.
• DAS on the payroll of salaried drivers: tax, CNSS, RQAP, FSS, CNESST; T4 slips and Relevé 1 at the end of the year.
• Meals for long-haul truck drivers: 80% deduction (instead of 50%), with supporting records and TL2 and TP-66 forms for salaried drivers.
• Mileage log and fuel receipts: required to justify vehicle deductions to the CRA and Revenu Québec.
• T2 and CO-17 declarations for the corporation, or T2125 and TP-80 for the unincorporated owner-trucker.

How can I deduct my vehicle expenses and the purchase of a truck? Road expenses (fuel, maintenance, insurance, permits) are deductible from your income, supported by a mileage log. Upon purchase, the truck is depreciated using capital cost allowance (CCA): Class 16 at 40% for a tractor or a truck designed for freight weighing over 11,788 kg, and Class 10 at 30% for others. An accountant specializing in this sector will schedule the deduction at the appropriate rate.

I drive outside Quebec: what is the IFTA and who manages it? The IFTA allocates the fuel tax between the states in which you drive. If your eligible vehicle leaves Quebec, you must file a quarterly report with the Canada Revenue Agency, detailing your kilometers driven and fuel purchases by state. Your accountant sets up the tracking system and prepares the reports to help you avoid penalties and assessments.

How much does an accountant cost in this sector? According to the Bankeo Barometer , based on 1,248 real-world cases (2024-2026), the median annual salary for an accountant in Quebec is around $2,000, ranging from $500 to $6,000 depending on the sector and complexity. The Bankeo matching service is free: you pay your accountant directly at standard market rates.

How can I change accountants for my transport company without disrupting everything? We handle the transition smoothly: your new accountant will take over your accounting data, IFTA reports, and tax returns, picking up right where you left off, without any interruption in the middle of the season. You don't have to negotiate anything on your own; we'll guide you every step of the way. And if the match isn't right, even in six months, we'll find you another one free of charge.

Local or remote accountant for transportation? What matters is that they know trucking (IFTA, Fleet DPA, Driver Inc.), not their zip code. Many carriers work very well remotely with scanned documents and phone calls, which is convenient when you're rarely in the office. If you'd prefer to meet with someone near your facilities, we'll take that into account when matching you with someone.

Is the "integrated driver" (Driver Inc.) model risky? It can be: the CRA and Revenu Québec can reclassify a company that only provides services to a single client as a personal services business, which would result in the loss of the small business deduction and a higher tax bill. An accountant specializing in this sector will assess your actual situation and structure things correctly to avoid any unpleasant surprises during an audit.