As discussed in our recent blog post, as of February 27, 2020, Bill 145 (Trust in Real Estates Services Act, 2020) has been officially passed and has been made into law. These changes, which have been sought by the Toronto Regional Real Estate Board (TRREB) since 2005, will allow real estate professionals to operate more efficiently within the industry by incorporating. The full text of the new legislation can be accessed here for free.
For more information on how real estate professionals can benefit and take advantage of these changes please see our primer on the subject in our previous post, or feel free to contact Kutner Law LLP with any additional questions or concerns about incorporating a professional corporation and benefiting from the low approximately 12.5% tax rate.
This blog post is for informational purposes only and should not be construed as legal advice.