Tax Savings Strategy for Real Estate Agents Canada

[@AllanMadanCA]

Yes, it's certainly legal :) A management agreement must be created, and accurate records kept to support any management fees charged.

[@UltimateHandler]

Sonat, when your spouse draws down from a corporation (either through dividends or salary), it is taxed at the personal level. Suppose your spouse takes out a dividend, she would have to declare the full dividend amount for tax purposes, and then she'll received a dividend tax credit for the portion of taxes already paid through the corporation. Hope that helps.

[@alankchow]

Great job Allan! I learned a lot through watching your video. Thanks!

[@clintcarter]

Excellent content, well spoken. Overall fantastic job. I'm in B.C. and a R.E. investor not a Realtor, but If I was a Realtor in your next of the woods we would be talking.

[@sonattry9129]

Great video. I'm just curious, if the corporation is in your spouse's name and the profits of the corporation get taxed 16.5%, would she get taxed again for pulling money out of the corporation in her tax bracket (say to buy personal things)? or are the profits of the corporation just taxed once? Thank you,

[@KEEJ1516]

Great video. Thanks Allan!!

[@AllanMadanCA]

Thank You, Allan

[@AllanMadanCA]

Thank you for the positive feedback. Allan Madan, CA

[@cynthiaostos8383]

I guess I should be prospecting for a spouse to use this strategy

[@AllanMadanCA]

@whatyourneighbourdid Thank you for the positive feedback. Allan

[@MakeMeaSandWh1ch]

Allan Madan 5 years later... Can a Realtor in Ontario incorporate now?

[@StiffToshi]

11 years later, we finally can.

[@MakeMeaSandWh1ch]

@@StiffToshi wow I don’t even remember commenting this

[@StiffToshi]

@@MakeMeaSandWh1ch lmao, I know the feeling when someone comments on my years ago posts.

[@navin4479]

Is this still valid "Unfortunately, the Real Estate Council of Ontario (RECO) does not permit real estate agents to incorporate" 12 years later

[@whatyourneighbourdid]

eye opening. thank you for this. bianca marijan sutton group innovative realty inc., brokerage hamilton