Personal Real Estate Corporation Lawyer
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Personal Real Estate Corporation Lawyer in Toronto
Real estate professionals in some provinces other than Ontario have had the ability to incorporate a Personal Real Estate Corporation, or a PREC, for some time. However, Ontario real estate agents and brokers only became entitled to these benefits on October 1, 2020, with the passing of the Trust in Real Estate Services Act. For the first time in Ontario, real estate professionals can now operate their business as a corporation instead of as self-employed individuals, providing many new tax savings opportunities.
While a professional accountant is the most qualified person to provide specific tax savings and deferral advice, the business and real estate lawyers at GLG LLP are exceedingly experienced in the incorporation of businesses. We will work with you to ensure your PREC is incorporated in accordance with all provincial legislation to avoid any compliance or liability issues. We also have relationships with several trusted accountants throughout the Greater Toronto Area and can provide you with referrals if you don’t already have one in place.
Contact GLG LLP Lawyer for Personal Real Estate Corporation in Toronto
Incorporating a business requires careful consideration and has several requirements to ensure compliance with provincial and federal legislation. The lawyers at GLG LLP have developed relationships with several real estate professionals in Toronto and the surrounding areas and are exceptionally skilled in business law and the intricacies of incorporating a business in Canada.
To discuss the creation of your Personal Real Estate Corporation with a member of our team, please contact us online or by phone at 416-272-7557.
Incorporating a Personal Real Estate Corporation in Ontario