| | | October 2, 2020 | Incorporating your realtor business in Ontario
John F. Oakey, CPA, CA, TEP, is national director of Tax Services at Baker Tilly Canada | The Ontario Real Estate Association (OREA) recently announced that effective Oct. 1, 2020, Ontario realtors will be permitted to operate their business through a personal real estate corporation.
This opportunity for Ontario real estate agents to incorporate provides increased flexibility for agents to structure their business affairs. There are benefits associated with incorporation that can now be accessed by Ontario realtors, including: lower business taxes, tax deferral, limited liability associated with non-realtor services and the possibility of income splitting. |
| | | Baker Tilly Ottawa LLP 400-301 Moodie Drive
Ottawa, ON
K2H 9C4 Canada
[email protected]
www.bakertilly.ca |
| This email is sent by Baker Tilly Ottawa LLP, formerly Collins Barrow Ottawa LLP. 400-301 Moodie Drive, Ottawa, ON, K2H 9C4, Canada.
Baker Tilly Canada periodically publishes Tax Flash for its clients and associates. It is designed to highlight and summarize the continually changing tax and business scene across Canada. While Tax Flash may suggest general planning ideas, we recommend professional advice always be sought before taking specific planning steps. |
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