One of the most talked about changes arriving with BC's Mortgage Services Act on October 13, 2026 is the Personal Mortgage Corporation. For the first time, eligible BC mortgage brokers will be able to receive their compensation through a personal corporation, a structure real estate agents in BC have used since 2009.
What a PMC is
A Personal Mortgage Corporation is a licensed corporation through which an individual broker can be paid. Instead of your brokerage paying you personally, it pays your corporation. The corporation then pays you a salary, dividends, or a mix of both, on a schedule you and your accountant decide.
Why brokers care
The appeal is mostly about tax planning. Income left inside a corporation is taxed at the small business rate, which is significantly lower than the top personal rates. That creates room to defer tax, smooth income between strong and weak years, and plan retirement savings differently. A PMC can also make expense management cleaner for brokers who run real business costs through their practice.
A PMC is not automatically the right choice. If you spend everything you earn each year, the deferral advantage mostly disappears, and a corporation adds accounting fees, separate tax filings, and licensing obligations. The break even point depends on your income and spending, which is exactly why this is an accountant conversation and not a blog conversation.
The rules to know
A PMC must be licensed by BCFSA, and the framework sets conditions on ownership and control, including that the licensed broker controls the corporation. The PMC only earns mortgage brokering income for the broker it belongs to. Your licensing, conduct and compliance obligations stay exactly the same, since the corporation changes how you are paid, not how you are regulated.
Details of eligibility and licensing come from BCFSA, and requirements may be refined as the MSA framework settles in. Confirm the current rules directly with BCFSA before acting.
What to do now
First, complete your MSA transition education before September 22, 2026, because nothing else matters if you cannot practice. Second, book time with your accountant and run your real numbers through the PMC question. Third, if the answer is yes, prepare your incorporation and licensing early rather than joining the rush after the Act takes effect. Fourth, talk to your brokerage, since payroll needs to flow to the right entity from day one.
Where A.I.M.I. Collective fits
Our compliance and payroll team is preparing for PMCs ahead of the MSA, so brokers who set one up can be paid through it without friction from the first payout. If you are weighing the move and want to talk it through with people who deal with broker payroll every day, we are easy to reach.
Related reading
- The September 22 2026 MSA transition deadline
- Mortgage licensing in BC, Alberta and Ontario compared
This article is general information, not tax or legal advice. Speak with your accountant and confirm requirements with BCFSA.