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PREC - Personal Real Estate Corporations

PREC – Personal Real Estate Corporations

PREC – Personal Real Estate Corporations  A new and amended regulations to the Real Estate and Business Brokers Act, 2002 (REBBA) has been released by the Ontario Government. The new regulation deals with personal real estate corporations and gives real estate agents the ability to utilize the benefits of incorporation. Brokers and salespeople may also

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Personal Real Estate Corporation (PREC) And Stricter Regulations For Ontario Realtors

Personal Real Estate Corporation (PREC) And Stricter Regulations For Ontario Realtors

In March, a significant law affecting Realtors in Ontario received Royal Assent: The Trust in Real Estate Services Act, 2020 (TRESA). The new legislation developed from the Real Estate Business and Brokers Act, 2002 (REBBA). The Trust in Real Estate Services Act, 2020 (TRESA) enables Realtors to perform incorporation and receive remuneration through a Personal Real

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How To Find A Good Accountant

How To Find A Good Accountant

This is Muhammad Nasrullah, Chartered Professional Accountant 20 years in public practice Serving GTA Brampton and Mississauga Area How To Hire A Good Accountant – 5 Things You Should Know 1. Make sure the accountant has a designation It does not matter whether the individual has a CPA, CGA or CMA 2. Make sure the

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CRA Audit Of Charitable Donation

CRA Audit Of Charitable Donation

If You Made Charitable Donations This Year, Here’s What You Need To Know: You can claim 5 years’ charitable donations all at once You can carry forward the charitable donations up to 5 years if there’s not enough taxable income to be deducted in the current year You can only claim charitable donations on taxable

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Information To File Personal Tax Return

Information To File Personal Tax Return

This is Muhammad Nasrullah, Chartered Professional Accountant 20 years in public practice Serving GTA Brampton and Mississauga Area Information That You Need To Provide To Accountants For Personal Tax Return 1. Errorless spelling of your first and last name, the SIN, date of birth, mailing address, email address and cellphone number. Same information of your

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Disadvantages Of Having Professional Real Estate Corporations – 3 Things You Should Know

This is Muhammad Nasrullah, Chartered Professional Accountant 20 years in public practice Serving GTA Brampton and Mississauga Area Disadvantages Of Having Professional Real Estate Corporations – 3 Things You Should Know 1. More Paperwork You have to fill Ontario Corporation Return, Federal Corporation Return, HST Return, T4 Return separately 2. Potentially More Wages Expense For

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