Bill 104 explained in plain English
Tax Fairness for Realtors Act, 2017
Ontario legislature bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Legislative Assembly of Ontario snapshot for 41st Parliament, 2nd 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 Ontario bill allows personal real estate corporations to be registered as real estate brokers or salespersons and receive commissions.
This Ontario bill, the Tax Fairness for Realtors Act, 2017, amends the Business Corporations Act and the Real Estate and Business Brokers Act, 2002. It allows a "personal real estate corporation" to be registered as a broker or salesperson. Such a corporation must be incorporated as a professional corporation, be authorized only to trade in real estate, and meet specific ownership and naming requirements. The bill also permits real estate brokerages to pay commissions or other remuneration to these personal real estate corporations.
- Amends the Business Corporations Act to include provisions related to personal real estate corporations.
- Amends the Real Estate and Business Brokers Act, 2002 to define and regulate "personal real estate corporations" for registration as brokers and salespersons.
- Allows brokerages to pay commissions to personal real estate corporations.
- Changes the definition of "broker" and "salesperson" in the Real Estate and Business Brokers Act, 2002 to include personal real estate corporations that meet certain criteria.
- Specifies conditions that a personal real estate corporation must satisfy, including ownership of shares, authorized business activities, and naming conventions.
- Amends the English version of certain provisions in the Real Estate and Business Brokers Act, 2002 to replace "he or she" with "the person".
- Repeals and substitutes a clause in the Real Estate and Business Brokers Act, 2002 regarding the payment of commissions to personal real estate corporations.
- Individuals registered as real estate brokers or salespersons.
- Personal real estate corporations.
- Real estate brokerages.
- The Ontario government (in terms of legislative framework).
- Personal real estate corporations must meet specific conditions regarding share ownership, business scope, and naming.
- Brokerages are permitted to pay commissions to personal real estate corporations.
- Corporations that cease to be personal real estate corporations must change their names.
- The Act came into force on the day it received Royal Assent.
- Allows for commission payments to personal real estate corporations, which may have tax implications for the individuals involved, though specific tax changes are not detailed in the bill.
- The bill does not explicitly detail new penalties for non-compliance, but changes to definitions and regulations imply enforcement under the existing framework of the Business Corporations Act and the Real Estate and Business Brokers Act, 2002.
- The bill refers to "prescribed qualifications" and "rules respecting the names of personal real estate corporations set out in the regulations," meaning that specific details are not included in the bill text but would be found in accompanying regulations.
- The exact timing of when the amendments take effect after Royal Assent is not specified beyond that it happens on the day of Royal Assent.
Adds provisions related to personal real estate corporations and modifies the application of certain sections for these corporations.
Source: Section 1, Section 2
Defines "broker" and "salesperson" to include personal real estate corporations, establishes conditions for these corporations, and allows brokerages to pay them commissions. It also amends the English version of certain provisions to use "the person" instead of "he or she".
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