The Tax Fairness for Realtors Act, 2015, was recently introduced in the Ontario Legislature.
To help get this important piece of legislation passed, we need your help! Click here to send an email to your local Member of Provincial Parliament (MPP) urging them to support this bill.
It’s time for REALTORS® to be treated fairly
Currently, the Real Estate and Business Brokers Act, 2002 (REBBA 2002), prevents real estate salespeople from operating their business through a PREC.
Many other regulated professions in Ontario, including chartered accountants, lawyers, health professionals, social workers, mortgage brokers, architects and engineers, can all form personal or professional corporations.
The ability to incorporate would allow a REALTOR®, depending on their level of business income, to save money on their income tax by taking advantage of the lower corporate tax rate.
Your help is needed!