Before you start your business, you need to register/incorporate your business with the registry. Following this, you will need a business number that will come along the GST, payroll, and import/export number. The primary factors to be considered include the liabilities and taxes that come with incorporation.
When you become a client of NSI Accounting & Financial Services, we make this process hassle-free and check the criteria for whether or not your business is eligible for incorporation based on various factors like revenue and profits. Don’t miss out on tax savings you gain by incorporating your business.
Once the business is registered, we work on the structuring based on the shares held by your partners or family members for income splitting purposes. Once all the above-mentioned criteria are fulfilled, we complete the minute book which plays a vital role for avoiding any issues with the CRA or other legal issues in the future.