On February 26, 2015, the legislative bill 69 “Tax Fairness for Realtors Act, 2015” to amend the Real Estate and Business Brokers Act 2002 (REBBA 2002) was introduced by Todd Smith, MPP (Prince Edward-Hastings) and Mike Colle, MPP (Eglinton-Lawrence).

In essence, the bill proposes that brokers and salespersons that are registered by the Real Estate Council of Ontario (RECO) can incorporate their business activities in a way similar to (but not identical to) other professionals in Ontario.

Changes to REBBA 2002 intended ...