The College is Closing

The OREA Real Estate College will cease to operate on December 31, 2020. Find out how the closing will affect admissions and the deadline to complete programs.

Beyond 2020, OREA will continue to provide services to members, real estate boards and associations across the province.

Deadline for Admissions

  • Admissions documents for The Salesperson Registration Education Program must be received by the OREA Real Estate College no later than April 30, 2019
  • The Admissions Test (if applicable) must be successfully completed on or before April 30, 2019
  • Admissions to The Broker Registration Education Program will not be accepted after April 30, 2019
  • No exceptions or extensions will be permitted

Log in as a…


Login

NEW!

We’ve partnered with REALTOR® Link to help improve your member experience and give your information the best security possible.

You will be returned to OREA once you have successfully logged in.

We can help

articleimage

February 26, 2015

OREA applauds multi-party support for Tax Fairness for Realtors Act

The Ontario Real Estate Association (OREA) applauds the re-introduction of legislation which will bring fairness to the tax treatment of Ontario Realtors.

Introduced by Prince Edward--Hastings MPP Todd Smith, the Tax Fairness for Realtors Act, 2015 will allow real estate salespeople to use personal corporations. The bill is being co-sponsored by Liberal MPP Mike Colle (Eglinton-Lawrence).

The Real Estate and Business Brokers Act, 2002 (REBBA), prevents real estate salespeople from operating their business through a personal real estate corporation (PREC).  

“This is fantastic news for Ontario’s real estate professionals,” said Costa Poulopoulos, president of OREA. “Many professions already have the ability to form personal corporations. This legislation is an important step towards treating Ontario Realtors fairly.” 

Other regulated professions in Ontario, including chartered accountants, lawyers, health professionals, social workers, mortgage brokers, insurance agents, architects and engineers, can all form personal corporations. Since 2008, British Columbia, Québec, Manitoba, Saskatchewan, Alberta and Nova Scotia have moved to allow real estate salespeople to incorporate.

“Most other provinces allow Realtors to form personal corporations,” said Poulopoulos. “It’s time for Ontario to do the same. It is encouraging to see members of the government and opposition parties supporting this legislation and we look forward to the bill being debated.”

PRECs will not cost the provincial treasury revenue and will produce a modest economic benefit. A recent study by the Centre for Spatial Economics (C4SE), found that PRECs would have a positive impact on provincial tax revenue and the economy. Specifically, C4SE’s report found that PRECs would:

- Create between 33 to 89 net new jobs annually;

- Increase provincial tax revenue by an annual average of $0.8 million to $2 million; and,

- Contribute between $9 to $25 million annually to Ontario’s GDP.

“Personal real estate corporations will pay for themselves through the collection of additional provincial sales taxes,” said Poulopoulos.
The ability to incorporate would allow a Realtor, depending on their level of business income, to save money on their income tax by taking advantage of the lower corporate tax rate. Money saved on taxable income is typically reinvested in the corporation.

About OREA: The Ontario Real Estate Association represents over 60,000 brokers and salespeople who are members of the province’s 40 real estate boards. OREA serves its members through a wide variety of publications, education programs and special services. The association provides all real estate licensing courses in Ontario.



For more information contact:

Katarina Markovinovic-Praljak

Head of Communications & Media Relations

katarinam@orea.com


More News & Press Releases

articleimage

Statement from Tim Hudak on the Government's Proposed Planning Act Changes to Reduce Red Tape

Today, Ontario Realtors are pleased to see the Doug Ford government taking an important first step to improve and streamline our province’s land use planning approvals process, a move that will bring homes to market faster.

Read More
articleimage

Statement from Tim Hudak re: Premier Doug Ford’s Keynote Speech at OREA's Ontario Realtor Party Conference

Today, we were pleased to welcome Premier Doug Ford as keynote speaker at OREA’s Ontario Realtor Party Conference. While speaking to over 400 real estate industry professionals, Premier Ford promised to continue to work to remove the barriers to home ownership and re-iterated that the government is ready to do their part to help Ontarians find an affordable place to call home.

Read More
articleimage

Statement from Tim Hudak re: Fall Economic Statement

Home ownership is a fundamental Canadian value and builds stronger communities. That is why OREA launched the Keep the Dream Alive campaign – to help create the next generation of Ontario home owners.

Read More
Back to News & Press Releases
To MP Survey
OREA Contract