PRECs, Dividends & CERB
CATEGORY: Practice Tips
TAGS: Canada Emergency Response Benefit COVID-19 Personal Real Estate Corporations
REALTORS® with Personal Real Estate Corporations who pay themselves dividends can apply for the Canada Emergency Relief Benefit (CERB), as long as they meet other eligibility criteria. On April 6, 2020, the federal government extended CERB eligibility criteria to include self-employed workers who pay themselves with dividends.
According to the CERB government website, non-eligible dividends (generally those paid out of corporate income taxed at the small business rate) count towards the minimum $5000 in income required for CERB eligibility. Non-eligible dividends also count toward the $1000 income threshold for a benefit period.
Read more about CERB and Realtor eligibility here.
For more information and resources related to real estate practice during the COVID-19 pandemic, visit the BCREA COVID-19 resources page.
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