The province announced a new 10% refundable corporate income tax credit that will be available to help cover the costs of the construction, renovation, or acquisition of qualifying commercial and industrial buildings in designated regions of the province (rural and Northern). The credit can apply to costs that range from $50,000 – $500,000. A list of qualifying locations is attached here. The credit is not temporary and will be automatically reviewed after 3 years. It will not provide a direct benefit to brokerages but may help stimulate commercial and industrial transactions in rural and Northern Ontario, which could provide an indirect benefit to brokerages.
Average Brokerage = No direct impact, potential for commercial increased transactions