This video covers a novel tax financial savings technique for actual property brokers in Canada. If you’re a actual property agent, then it is rather necessary that you simply watch this video.
As an actual property agent within the prime marginal bracket within the province of Ontario, you’re paying tax at a fee of 46.4%. Now, would not it’s good for those who might incorporate and pay tax at a fee of 16.5%? 16.5% is the company revenue tax fee for small companies in Canada. Unfortunately, the Real Estate Council of Ontario (RECO) doesn’t allow Real Estate brokers to include.
So how will we resolve this dilemma? It entails a sequence of steps utilizing a administration firm. This video will stroll you thru these steps.
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Table Of Contents
01:07 – Create A New Corporation Owned By Your Spouse
01:30 – Expenses Managing Company Should Pay For
01:59 – Labour Hours
02:13 – Pay Monthly Cheque To Management Company
The info supplied on this video is meant to supply normal info. The info doesn’t take into consideration your private state of affairs and isn’t meant for use with out session from accounting and monetary professionals. Allan Madan and Madan Chartered Accountant won’t be held answerable for any issues that come up from the utilization of the data supplied on this video.