Is the corporate structure of your PREC optimized for your objectives?
PRECDepending on your desired outcomes, the corporate structure of your PREC may shift—making it important to identify your objectives in advance.
Across Ontario, countless real estate professionals have been eagerly awaiting the passage of new legislation that allows them to incorporate by setting up a Personal Real Estate Corporation (PREC). We’ve created this hub to help you navigate incorporation and understand how you can maximize your hard-earned commissions. If you need any support, contact us at any time.
Personal Real Estate Corporation (PREC) Explained
Real Estate and ConstructionA 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.
Setting up a PREC? Ensure you're an independent contractor
Real estate and constructionWhen 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.
How to reap the tax advantages of a PREC
Real estate & constructionNow that real estate agents are able to set up a PREC, it's important to understand the difference between passive and active income.
Structuring your PREC to maximize your earning power
Real estate and constructionOntario’s real estate professionals can incorporate by setting up a PREC. However, it’s important to understand the different structures and their benefits.
Personal Real Estate Corporation: What to consider from the legislation
Real estate and constructionWith the passing of legislation for Bill 145, it’s now possible for realtors in Ontario to establish a Personal Real Estate Corporation (PREC).
Setting up a PREC: What haven’t you considered?
Real Estate and ConstructionThe benefits of incorporation can be considerable, including the opportunity to defer up to 40 percent in personal taxes. To maximize those benefits, however, there are some traps you’ll need to avoid. Here are five key steps you can take to get it right.
The Personal Real Estate Corporation (PREC): Four tax-saving opportunities
Real Estate and ConstructionWhile the legislation (and details) around Personal Real Estate Corporations (PRECs) have yet to be released, there are a few things real estate professionals can do today to prepare.
