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At the beginning of 2025, the general economic consensus was one of ‘cautious optimism’.
Uncertain economies create unique challenges and opportunities to capitalize on growth, and agility is critical for success.
Depending on your desired outcomes, the corporate structure of your PREC may shift—making it important to identify your objectives in advance.
A Personal Real Estate Corporation (PREC) is a personal corporation that real estate agents and brokers can establish. Jaclyn Cairns, Senior Manager, Tax, presents the important points you need to know in order to determine if a PREC is right for you.
When setting up your PREC, ensure you know the differences between being an independent contractor and qualifying as a PSB in order to avoid higher tax rates.
Now that real estate agents are able to set up a PREC, it's important to understand the difference between passive and active income.
Ontario’s real estate professionals can incorporate by setting up a PREC. However, it’s important to understand the different structures and their benefits.
With the passing of legislation for Bill 145, it’s now possible for realtors in Ontario to establish a Personal Real Estate Corporation (PREC).