Smith introduces Tax Fairness for Realtors

Todd Smith

Prince Edward-Hastings MPP Todd Smith introduced a bill at Queen’s Park that would allow Ontario’s realtors the same treatment as professional colleagues.

Ontario would join other provinces who allow realtors to personally incorporate in the same manner that lawyers, mortgage professionals and chartered accountants do.

The Tax Fairness for Realtors Act would allow Ontario’s realtors to personally incorporate.

“It’s a bill that had local support from the Quinte and District Real Estate Board. When they brought to my attention that other professions are allowed to do it and other provinces, including British Columbia and Alberta, allow realtors to do it. I didn’t want Ontario left behind.” Smith said.

He noted an independent study has shown the bill has the potential to generate between 33 and 89 jobs annually and could generate between nine and 25 million dollars in economic activity for the province.

“When I look at private members’ bills, one thing that I do is ask if it’s going to help create jobs, and get our economy moving,” said Smith. “There’s only so much that can be accomplished through private members’ bills but every small step we make adds up to something.

“Our realtors are always sponsoring local area sports teams whether it’s minor hockey or soccer. They’re contributing to local charitable events either through buying tickets or sponsoring the event. Making that easier helps to make our communities stronger.”