He are filing as a non-profit co-working space in Quebec, Canada that caters office space to non-profits. In our application we need to answer ONE of the 2 questions:
1."The amount of immovable property which may be owned or held by the legal person is limited to: __$"
OR
2."The income derived from the immovable property which may be owned or held by the legal person is limited to: __$"
I'm assuming we should answer the 2nd one since we will not own the property. Is this basically asking what kind of salaries are we paying ourselves from the rent we get? In other, given that our organization's income will almost entirely be based on rent, does this amount represent our maximum salary?
Many thanks!
Vlad