Contact Us
Service

Personal Real Estate Corporation (PREC)

PREC’s differ from traditional Corporation. Opens the door to significant tax savings and deferral opportunities. The ability to incorporate realtor activities, puts Ontario on equal footing to most other province. However, there is a lot to consider before you form a PREC.

If you are a Real Estate agent, these are crucial considerations to ensuring:

  • Are you earning more than what you need to meet your daily living expenses?
  • Do you want to save more money for retirement?
  • Could you benefit from distributing business income to your family members?
  • Are you considering passing your business on to a family member who is or will be a real estate salesperson or broker registered with RECO?
  • Are you considering selling your business to a real estate salesperson or broker registered with RECO?
  • Are you incurring significant business expenses that are either not deductible, such as life insurance premiums, or only partially deductible, such as meal and entertainment expenses?
  • Where are you in your professional journey? Are you just starting your real estate career or are you heading towards retirement?

After long-standing request, effective October 1, 2020, Ontario Realtors have incorporation options available for consideration. The Personal Real Estate Corporations (PRECs) comes from the Trust in Real Estate Services Act, 2020 (“TRESA”). Real Estate agents and Brokers may incorporate in Ontario and arrange for their self-employed revenue to be paid into a PREC.

Let us assist you in setting up the optimal structure!

Our Services

Start Your Business

We will organize your company with the right structure to allow growth, flexibility and tax efficiency.

Contact Us

Our Services

Tax Checklist

Others

Hcdicomoonicon-facebook Hcdicomoonicon-instagram
  • Copyright 2024.
  • Zac Mathews & Associates. All Rights Reserved.