Incorporate as a Mortgage Broker or Agent for $35
Start your mortgage corporation for $35, HST included, with government fees shown separately at cost. A CPA reads your agent agreement and checks the FSRA licensing position before we file.
Ontario licenses mortgage agents and brokers as individuals under the Mortgage Brokerages, Lenders and Administrators Act, 2006. Incorporating does not, by itself, move your commission into the corporation. That depends on your brokerage. We prepare and file your corporation for $35.00, HST included, and pass the registry fee on at cost. Open Corporation for $35 is a department of Gondaliya CPA.
A Chartered Professional Accountant reads your agent agreement and matches it to how your commission will be reported before anything is filed.
Why Mortgage Brokers and Agents Incorporate
Active business income inside the $500,000 federal business limit is taxed at 9% federally and 2.2% in Ontario from 1 July 2026, a combined 11.2%. Commission earned personally is taxed at rates that take more than half of the top dollar.
The rate cycle swings income. A purchase-heavy year followed by a renewal-only year taxes a proprietor at the top, then leaves little for the thin one. A corporation lets you draw a level wage across both.
For a principal broker the corporation is the point. A brokerage licence can be held by a corporation, which then earns the fees directly.
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The Rules That Matter for a Mortgage Corporation
Mortgage brokering has no professional corporation in Ontario, so nothing restricts who holds a share. You incorporate under the Business Corporations Act (Ontario) or the Canada Business Corporations Act. The regulator is the Financial Services Regulatory Authority of Ontario.
Read the agent agreement before you incorporate. If the brokerage will not pay your corporation, incorporating can still help a team lead or a private lending book, but it shelters no commission. You should know that before you spend anything.
Typical Share Structure for a Mortgage Corporation
| Share class | Who holds it | Voting | Dividend entitlement | Why it is there |
|---|---|---|---|---|
| Class A common | The licensed agent or broker | Yes | Discretionary | Control and growth |
| Class B common | A spouse or adult child | No | Discretionary | Dividend flexibility, if a split income exception is met |
| Class C common | A second licensed partner | Yes | Discretionary | Separate profit pools |
| Class D preferred | The founder | No | Fixed, redeemable | Freezes value before a buy-in |
| Class E preferred | The founder | No | Fixed, redeemable | Consideration on a section 85 rollover |
Section 120.4 of the Income Tax Act decides whether the Class B share is worth holding. The excluded shares exception needs 10% of votes and value and fails where 90% or more of business income comes from services, which is what commission is. The routes that remain are a family member aged 18 or over who works in the business on a regular, continuous and substantial basis, usually an average of 20 hours a week, and dividends to a spouse once the owner is 65.
HST for Mortgage Brokers and Agents
Arranging a mortgage is an exempt financial service. The definition of financial service in subsection 123(1) of the Excise Tax Act includes arranging for a loan, and the Canada Revenue Agency explains it in GST/HST Technical Information Bulletin B-105. You charge no HST on commission.
Common CRA Issues for Mortgage Corporations
Slips that do not match
The brokerage reports commission on a T4A in your personal name while the corporation reports the same income. The CRA’s matching program assesses you personally.
Income reported by the wrong person
Where the licence, the agent agreement and the client relationship all sit with you personally, the CRA can assess you whatever account received the money.
Credits claimed on exempt income
Agents who registered for HST in error, or left an old registration open, claim credits against exempt commission and lose them on audit.
Shareholder loan balances
Drawings taken with no salary or dividend resolution leave a debit balance, which subsection 15(2) adds to personal income if it is not repaid in time.
First-Year Compliance Calendar
| When | What is due | Who files it | What happens if it is late |
|---|---|---|---|
| Before the first commission | Written agreement with your brokerage on who is paid | You and your principal broker | Commission stays personal |
| Within 60 days of incorporation | Initial Return under the Corporations Information Act, no fee | Us, in the Ontario Business Registry | Non-compliance under that Act |
| Week one to two | Business number and RC0001 corporate tax account | Your CPA | Nothing to file the T2 against |
| 15th of the following month | Payroll source deductions | The corporation | Penalty of 3% to 10%, 20% on a repeat |
| If taxable side income passes $30,000 | HST registration | Your CPA | Tax assessed on past sales, plus interest |
| Within 53 weeks of incorporation | First fiscal year end chosen | Your CPA | Difficult to change afterwards |
| 31 March each year | Agent or broker licence renewal | Through your principal broker, to FSRA | The licence expires |
| 3 months after year end | Corporate tax balance, with the small business deduction | The corporation | Interest at the prescribed rate |
| 6 months after year end | T2 return and Ontario Annual Return | Your CPA, and us | Late filing penalty, and non-compliance under the Corporations Information Act |
The first document we read is your agent agreement, not the articles.
The agent agreement
Whether the brokerage will pay a corporation, how the split is stated, and whether a written amendment is needed before the first commission moves.
Your licence
A Level 2 agent, a broker and a principal broker running a brokerage are three different tax positions. Only the brokerage licence sits with a company.
Shareholders
A spouse share helps only if section 120.4 lets the dividend through, so we test hours worked before the share is issued.
HST and year end
Most agents make only exempt supplies and should not hold a registration. The year end is set against your closing pattern.
Association and pay
Whether a private lending company shares the $500,000 business limit, the first draw as salary or dividend, and any section 85 rollover.
AFFORDABLE Incorporation Pricing for Mortgage Professionals
Our fee is $35.00 with HST included. Every government fee is its own line, at the amount the government charges.
| Item | Amount | HST | Total | Who charges it |
|---|---|---|---|---|
| Incorporation preparation and filing | $35.00 | Included | $35.00 | Open Corporation for $35 |
| Ontario Articles of Incorporation, filed online | $300.00 | Not applicable | $300.00 | Ontario Business Registry |
| Federal Articles of Incorporation, filed online, if you choose federal | $200.00 | Not applicable | $200.00 | Corporations Canada |
| Ontario NUANS name search report, named company only | $25.00 | Included | $25.00 | Ordered through us |
| Ontario Initial Return and Annual Return | $0.00 | Not applicable | $0.00 | Ontario Business Registry |
| Bookkeeping, payroll and the T2 | Quoted on request | Included in the quote | Quoted on request | Gondaliya CPA |
A numbered company needs no NUANS report. FSRA licence renewal fees are separate and are paid through your principal broker.
Our Services for Mortgage Brokers
Our professional fees include HST. Government fees are separate, itemised and charged at cost with no mark-up.
NUANS Report for Mortgage Brokers
The Ontario name search for a named company. Many agents start with a numbered company.
Incorporation Service for Mortgage Brokers
Articles filed under the Business Corporations Act (Ontario), with share classes ready for a second licensed partner.
Address Service for Mortgage Brokers
A registered office address in downtown Toronto for the public register and corporate mail, separate from your home.
Payroll Service for Mortgage Brokers
Payroll for your own salary, an assistant and any sub-agents on staff, with T4 slips filed.
One Window Service for Mortgage Brokers
The articles, the business number, the payroll account and the Initial Return set up in one engagement.
Corporate Annual Filing for Mortgage Brokers
The Ontario Annual Return filed in the Ontario Business Registry within six months of year end, with director and address changes kept current.
Corporate Tax Filing for Mortgage Brokers
The T2 with GIFI statements, built from commission statements and matched to the slips your brokerage issues.
Federal Incorporation for Mortgage Brokers
A federal corporation suits a brokerage group planning to operate in several provinces.
Holding Company Setup for Mortgage Brokers
A holding company that takes surplus or a private lending book out of the operating company.
The Bundle for Mortgage Brokers and Agents
After incorporation the ongoing work moves to Gondaliya CPA. We keep books built around commission statements rather than invoices, match income to the slips your brokerage issues, run payroll where sub-agents are on staff, prepare the T2 and your personal return, and set the salary and dividend mix each year.
Why Mortgage Professionals Use Us
Gondaliya CPA Professional Corporation is registered with CPA Ontario under firm registration number 61330051. Our clients have left us 1,300+ five-star Google reviews, and we work from 13 Ontario offices, open 9:00 AM to 8:30 PM, Monday to Sunday. We back every filing with a 30-day money-back guarantee and a 60-day fee-matching policy, and we are a Xero Partner Award Winner 2026. Open Corporation for $35 is a department of Gondaliya CPA.
- CPA Ontario firm registration number 61330051
- 1,300+ five-star Google reviews
- 13 Ontario offices
- Open 9:00 AM to 8:30 PM, Monday to Sunday
- 30-day money-back guarantee
- 60-day fee-matching policy
- Xero Partner Award Winner 2026
Google Reviews
Free CPA Consultation for Mortgage Brokers and Agents
Case Studies: Mortgage Brokers and Agents
Three Ontario mortgage files, each showing where the licensee started and what changed before anything was filed.
Mississauga Level 2 Agent – Will the Brokerage Pay?
The problem: An agent wanted to incorporate after a strong purchase year.
What we did: We read the agent agreement first, the agent obtained a written amendment from the brokerage to pay the corporation, and we incorporated before the next commission.
The result:
- Payment route settled in writing
- Slips matched to the corporation
- No HST account opened
Toronto Team Lead – Sub-Agents and an Assistant
The problem: A team lead was paying an assistant and two junior agents personally.
What we did: We incorporated, set up payroll for the assistant, and reviewed whether the junior agents’ splits belonged on payroll or with the brokerage.
The result:
- Payroll in place
- Clean records
- Splits reviewed
Brampton Principal Broker – Opening a Brokerage
The problem: A broker wanted to open their own brokerage.
What we did: We incorporated the company that would hold the brokerage licence, set a year end away from the spring season, and kept a private lending book in a separate holding company.
The result:
- Corporation ready for the brokerage licence
- Year end set for cash flow
- Lending kept separate
Six steps from the intake form to a corporation your brokerage can pay.
Send the intake form
Your licence, your brokerage, the shareholders and your agent agreement.
A CPA reviews the file
Whether the brokerage will pay the corporation, the HST position and how you plan to pay yourself.
The name
A numbered company needs no search. A named company is checked with a $25.00 NUANS report.
You approve the draft
You see the articles, the share classes and the registered office before anything is filed.
Filed online
The articles go through the Ontario Business Registry at $300.00, and you receive the certificate of incorporation.
Accounts
Business number and payroll account, then the payment details go to your brokerage.
Meet the Lead CPAs Behind Your Mortgage Corporation
A Chartered Professional Accountant checks your agent agreement and the HST position before anything is filed.
What Our Clients Say
These Google reviews belong to Gondaliya CPA Professional Corporation and cover every service the firm provides. See all reviews.
Incorporating a Mortgage Business Anywhere in Ontario
We incorporate mortgage agents, brokers and brokerages from thirteen Ontario offices, and the filing is electronic, so no visit is needed. See also incorporation in Toronto.
Mortgage Incorporation FAQs
Can a corporation hold a mortgage agent or broker licence in Ontario?
Can my brokerage pay my commissions to my corporation?
Can a corporation hold a mortgage brokerage licence?
Do mortgage brokers charge HST on their commissions?
Should a mortgage agent register for HST voluntarily?
How much tax does a mortgage corporation pay?
Can I pay dividends to my spouse from a mortgage corporation?
When do I renew my mortgage licence?
Related Industries We Serve
Insurance Brokers and Agents
- Commission income
- Exempt financial services
- Licensing
Lawyers and Paralegals
- Professional corporations
- Trust accounting
- HST on fees
IT Consultants
- One-client contracts
- Personal services business risk
- HST on fees
Immigrants and Newcomers
- Starting a business in Canada
- CCPC status
- Banking and accounts
Read our Ontario incorporation service and the federal incorporation service for the wider rules.
Set Up Your Mortgage Corporation Properly
Pay $35, HST included, and a Chartered Professional Accountant reads your agent agreement, confirms the licensing position and sets the share structure before anything is filed.
No legal advice. Gondaliya CPA Professional Corporation is a firm of Chartered Professional Accountants licensed by CPA Ontario, firm registration number 61330051. It is not a law firm. We prepare and file corporate documents and we provide accounting and tax advice. Nothing on this page is legal advice, and reading it creates no solicitor and client relationship. For legal advice, including advice on a shareholder agreement before you sign it, consult a lawyer licensed in the province where your corporation carries on business.
Open Corporation for $35 is a department of Gondaliya CPA.
