In February, the Ontario Government passed the bill for the Trust in Real Estate Services Act, 2019 (TRESA). One of the critical parts of this bill is for REALTORS® to have the ability to form Personal Real Estate Corporations (PRECs). OREA lobbied hard for this change and we are thrilled it is coming into effect soon.
When the PREC portion of the bill is implemented, Ontario REALTORS® will be able to incorporate their business, like other regulated professionals including, doctors, accountants, and lawyers.
So, what will a PREC mean for you?
As we work towards enacting the legislation into law for our Members, we know that you have questions.
- Should I incorporate?
- What are the advantages and disadvantages?
- Will I be able to take advantage of income splitting?
- What do PRECs mean for tax planning?
To help Members get ready for this important policy change, we are pleased to present an exclusive webinar on Tuesday, July 7, 2020, at 1:00 P.M. EST called “Incorporation 101 for Real Estate Professionals.”
- Anna Abbruzzese, President, Actium Consulting Inc.
Space is limited. Click below to register.