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ARTICLE · 11 FEBRUARY 2021

Incorporation For Real Estate Professionals

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Accountants, engineers, lawyers, doctors, dentists. Now real estate professionals join the Ontario regulated professionals who are able to personally incorporate

CanadaReal Estate and Construction
Kathryn Walker
Kathryn Walker
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Accountants, engineers, lawyers, doctors, dentists.  Now real estate professionals join the Ontario regulated professionals who are able to personally incorporate their business.  Following several other provinces,1 on October 1 2020, the Ontario government passed O/Reg 536/20: Personal Real Estate Corporations, under the Real Estate and Business Brokers Act, 2002, which provides that real estate salespeople and brokers may incorporate in Ontario. Incorporation allows a real estate professional to have their self-employed revenue paid directly into their personal real estate corporation ("PREC"), offering some tax advantages.

Tax Advantage

The key tax advantage of incorporation is that income earned in a PREC is taxed at the corporate tax rate, which is substantially lower than the personal tax rate.

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