Bill 38 explained in plain English
Tax Fairness for Real Estate Professionals Act, 2018
Ontario legislature bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Legislative Assembly of Ontario snapshot for 42nd Parliament, 1st Session. Representative vote breakdowns appear when the Assembly publishes an Ayes and Nays page for the bill.
Our plain-language take, written for civic education.
Source: By PoliticalData.ca
This Act amends the Business Corporations Act and the Real Estate and Business Brokers Act, 2002, to permit and regulate personal real estate corporations.
Bill 38, the Tax Fairness for Real Estate Professionals Act, 2018, makes changes to Ontario's laws to allow individuals to incorporate personal real estate corporations. These corporations can be registered as brokers or salespersons and can receive commissions. The bill also makes amendments to how professional corporations are described and used in the context of real estate trading.
- Amends the Business Corporations Act to allow for the creation of 'personal real estate corporations' which are a type of professional corporation.
- Amends the Real Estate and Business Brokers Act, 2002 to allow individuals to register as a 'broker' or 'salesperson' through a personal real estate corporation.
- Defines the conditions that a personal real estate corporation must meet, including ownership of shares and its name.
- Specifies that a personal real estate corporation must not be authorized to conduct any business other than trading in real estate.
- States that a personal real estate corporation is entitled to receive commission or other remuneration from a brokerage for trading in real estate.
- Makes changes to the wording in the English version of certain provisions of the Real Estate and Business Brokers Act, 2002, replacing 'he or she' with 'the person'.
- Requires a corporation that ceases to be a personal real estate corporation to remove the specific designation from its name.
- Individuals who are real estate brokers or salespersons.
- Corporations operating in the real estate sector.
- Real estate brokerages.
- The Ontario government, through its regulatory bodies for real estate and business.
- Personal real estate corporations have the right to be registered as brokers or salespersons and receive commissions.
- Personal real estate corporations have the obligation to meet specific ownership, naming, and business activity requirements.
- A brokerage has the right to employ a personal real estate corporation and pay it remuneration.
- The Act came into force on the day it received Royal Assent.
- The bill does not specify penalties for non-compliance. It does require a corporation to change its name if it ceases to be a personal real estate corporation.
- The specific 'prescribed qualifications' for a personal real estate corporation to be registered as a broker or salesperson are not detailed in the bill, but would be set out in regulations.
- The 'rules respecting the names of personal real estate corporations' are to be set out in regulations.
- The bill does not specify the penalties for a corporation failing to meet the conditions of a personal real estate corporation or failing to change its name.
Allows for the creation and regulation of personal real estate corporations as a specific type of professional corporation, and clarifies how these corporations are referred to in the Act.
Source: Section 1, Section 2
Permits personal real estate corporations to be registered as brokers and salespersons, changes the definition of 'broker' and 'salesperson' to include these corporations, sets conditions for their operation, allows them to receive remuneration, and changes gendered language in some provisions.
Source: Section 3, Section 4, Section 5
Generated using AI from official bill text. Not legal advice. It is written by PoliticalData.ca for civic education, automatically checked and spot-reviewed before publishing.
Official textProcess Snapshot
Vote Summary
This bill is still active. We only show vote counts after the legislature publishes a recorded division.
No published representative vote breakdown
This bill is still moving through the process. When a recorded division is published, representative positions can be listed here.
Official sources
Status, sponsor, votes, and timeline on this page are drawn from these official legislative sources and public records. Each summary above is attributed to its own source.
How this data is sourced