Receiving your incorporation documents is an important milestone. Your next step is to confirm which registrations are already in place and which your business actually needs.
Understand the different registrations
A business number identifies your business. CRA program accounts sit alongside that number for particular obligations, such as corporation income tax, GST/HST and payroll. Having a business number does not by itself confirm that every program account has been opened.
The CRA states that federal incorporation, and incorporation in Ontario, provides a business number and corporation income tax account. Additional GST/HST or payroll accounts may still be needed. Check the registration confirmations you received before applying again.
Build a setup checklist around your plans
- Your business activity: Describe what you sell, who you sell to and when trading begins so your GST/HST registration needs can be assessed.
- Your hiring plans: Discuss whether you will employ staff, pay yourself through payroll or engage contractors before setting up payments.
- Your first invoices: Confirm the legal business details and applicable sales-tax treatment before sending them.
- Your records: Organize incorporation documents, account confirmations and access arrangements in one controlled location.
Agree on responsibility from the start
Write down who will complete each registration, confirm it has been processed and maintain the ongoing filing calendar. If you are moving an existing business into a corporation, discuss the transition before changing invoices or transferring balances.
A setup conversation should leave you with a clear list of actions and the information needed to complete them.