Gas Stations
Accounting for Gas Stations
Financial Management for Fuel and Retail Businesses
Gas stations and convenience stores deal with high transaction volumes, fuel and merchandise inventory, multiple revenue streams, and strict CRA compliance requirements — making professional accounting essential.
Gas stations must charge and remit GST/HST on both fuel sales and convenience store items — with different rules applying to different product categories. Proper bookkeeping and regular filings are critical to staying CRA compliant.
Gas Station Tax Rules
Key Tax Obligations for Gas Station Operators
01
GST/HST Applies to Fuel & Most Products
Both fuel sales and convenience store items are subject to GST/HST — proper collection and remittance is mandatory.
02
PST May Apply to Certain Products
Some products sold in convenience stores are subject Provincial Sales Tax (PST) — accurate classification is essential.
03
Inventory Tracking is Required
Fuel and merchandise inventory must be accurately tracked for cost of goods sold and to support tax filings.
04
WCB Registration is Required for BC Employers
05
Payroll Compliance is Essential
With shift workers and part-time staff, gas station payroll requires accurate wage calculations and timely CRA remittances.
06
Accurate Books Reduce CRA Audit Risk
Gas Station Deductions
Eligible Deductions for Gas Stations
Fuel & Merchandise Cost of Goods
The cost of fuel and convenience store products purchased for resale is fully deductible against your revenue.
Employee Wages & Benefits
All employee wages, salaries, and eligible benefits paid to gas station staff are fully deductible.
Rent & Property Costs
Lease payments, property taxes, and occupancy costs for the gas station property are deductible.
Equipment & Maintenance
Fuel pump maintenance, equipment repairs, and capital cost allowance on major equipment are deductible.
Utilities & Operating Costs
Hydro, gas, water, security systems, and other utilities directly related to operations are deductible.
Insurance Premiums
Liability insurance, property insurance, and other business coverage premiums are deductible expenses.
Gas Station Records
Records Every Gas Station Must Maintain
Total Fuel & Merchandise Sales Records
All Supplier & Expense Receipts
Payroll Records & Employee Information
GST/HST Number & Filing Records
ADL for Gas Station Owners
Accounting Services for Gas Stations
Bookkeeping
We record and organize all daily transactions — fuel sales, merchandise, and expenses — keeping your books CRA-ready.
Payroll
We manage wages, deductions, and CRA remittances for all your staff — accurate and on time every cycle.
GST/HST Filings
We calculate and file your GST/HST returns accurately — covering both fuel and convenience store sales.
PST Filings
We prepare and file your BC PST returns — ensuring proper reporting of all taxable merchandise sales.
WCB Filings
We handle WorkSafeBC registration and annual payroll reporting for full workplace insurance compliance.
Corporate Taxes
We prepare and file your annual T2 corporate tax return — ensuring full CRA compliance every year.