Business Registration in Toronto
The team at Metro Tax Acc Depot works closely with Toronto entrepreneurs and companies in all aspects of the business. Call us now for help with your business registrations, as well as assistance with financial matters.
As a business owner, if your total sales amount to $30 000 or more in a single quarter, or four consecutive calendar quarters, you need to register for a GST and HST account. Once you exceed the $30 000 thresholds, you must collect and remit sales tax and remit it to the government every quarter. The Canada Revenue Agency (CRA) will assign you a GST number that will serve to identify your company in your business dealings with the government going forwards. For instance, your GST number will be used for your corporate income tax, as well as your payroll deductions account if your business has employees.
The day your business surpasses the $30 000 limits is considered your effective registration date. From that date, you have 29 days to contact the CRA and register for your GST and HST number. For many first-time business owners, this process can be somewhat overwhelming and confusing. For minimal stress and optimal accuracy, contact the experts at Metro Tax Acc Depot. Our experience ensures that your registration process will go off without a hitch. Call now for an appointment.
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All companies in Ontario must also register with the Workplace Safety Insurance Board. This independent board is responsible for providing insurance benefits, like loss of earnings and healthcare coverage that result from workplace accidents and injuries.
Don’t put yourself at risk of the severe penalties and possible prosecution that can stem from non-compliance. Since the WSIB and CRA share information about businesses that are required to register under the WSIB, the team at Metro Tax Acc Depot can handle both registrations at the same time. Contact us today for more details.
Don’t risk non-compliance