Every Canadian business that falls under The Canada Business Corporations Act (CBCA) is obligated to file an annual return every year.
Filing your corporation’s information with the appropriate CRA can be challenging, so it pays off if you have Pivotop Accounting Services on hand! They’ll ensure all necessary documentation and filings are submitted in a timely manner using our online filing service or via fax at no extra charge–so don’t worry about waiting until tax season comes around again.
To file an annual return, you will need to know:
A business’s minutes book is a record of all the company’s activities. These records help track information for corporate, federal and tax purposes under Ontario Business Corporations Act (OBCA) or Canada Business Corporation Act CBC. You need to keep an up-to-date minutes book in order to stay legitimate and stable. Pivotop Accounting Services will ensure that you maintain it appropriately so your filing goes smoothly.
According to The Canadian Government, most businesses have a legal obligation to register with the government before they start operations. This not only includes sole proprietorships but also companies that use more than one person as an owner and therefore need incorporated as either corporations or partnerships for jurisdiction reasons (i e its members must share liability).
The registration process allows For-Profit Businesses in Canada access many benefits including: receiving your own unique tax ID number; opening up bank accounts under this identification number which you can then deposit checks into.
That said, there are more than legal reasons to register your business. Registering the right way will allow you establish banking accounts and apply for loans easily with a unique name that legitimizes all future endeavours in years ahead of time!
To register your business, you will need the following information:
You are considered eligible to register your business with the Business Registration Online (BRO) if you meet any of the following requirements:
Registering a business in Ontario looks different for corporations and individuals.
To register your business as a sole proprietor, you will need to:
To register a corporation, you will need to:
You will want to get a professional business accountant at Pivotop Accounting Services so your company can be correctly registered. This ensures everything is accurate and done right, which could lead up towards some stiff fines if you fail.
The cost to register a business name in Ontario is $60, and this must be renewed every five years for an additional fee of $60.
A business registration number in Canada refers to a company’s 9 digit identifier that identifies them as legal. A new business will receive this identifying code when they federally incorporate, register for programs with the Canadian Revenue Agency (CRA), or use BRO’s online services.
Hi, we’ve changed our name but you can still expect the same great services from us at Pivotop Accounting Services.