Incorporation in Canada

[new_migration]

Hello All,

It has been two months i have landed in Canada, I am still searching for a job,One of the the MNC is going offer me a
on contract job , But they were asking me about Incorporated details.I told i haven't incorporated yet, So they they told they are going to deduct 5 dollars per hour from my Pay.By the way the company has offered me to pay 55CAD per hr. It is IT job.

Can anyone please let me know the procedure to Incorporated and benefits of getting that and suggest me best charted accountant in Mississauga.


Thanks

 

[ciscoccie]

Hello All,

It has been two months i have landed in Canada, I am still searching for a job,One of the the MNC is going offer me a
on contract job , But they were asking me about Incorporated details.I told i haven't incorporated yet, So they they told they are going to deduct 5 dollars per hour from my Pay.By the way the company has offered me to pay 55CAD per hr. It is IT job.

Can anyone please let me know the procedure to Incorporated and benefits of getting that and suggest me best charted accountant in Mississauga.


Thanks

Here are the steps, or you can search for a lawyer on kijji and pay him around 400 CAD to get things setup.


How to Federally Incorporate a Business: (Required if working in two (2) provinces or more)
1. Browse to https://www.ic.gc.ca/app/scr/cc/CorporationsCanada/hm.html?locale=en
2. Select “Incorporate a Business”. (Cost 200$ total)
• No special external documents needed.
This is an excellent website and has good online help at (for Alberta Only): http://www.canadabusiness.ca/eng/page/2729/sgc-48/#sgcselect If you like to choose your own corporation name, you will need a NUANS report (~$20.00). Otherwise, assigned name (Corporation number) is free.
• In step 7, “Extra-Provincial Registration”, add the province in which it will do business in. Ontario is FREE and simple. Other provinces, may charge fees and/or need other forms.
• Business will be incorporated within 24hrs.
3. Your Incorporation documents will be mailed physically and electronically to you
4. Wait 1-2 days.
5. Call Canada Revenue Agency 1-800-959-5525, Option 1. Speak to a Rep. Ask for a Business Number, HST #.
• You will obtain a Business Account Number, GST # and Corporate Tax Number.
6. Open a business bank account for the new corporation. This is required to show separation of interests.
It will take approximately one (1) work week to complete all of these tasks.

If you plan on doing business in only one province, you only need to incorporate in that province. You will still need to call the CRA to request a Business Account Number, and a GST Number.
Incorporating in individual provinces may not be as streamlined as a federal incorporation, and each province has different reporting requirements. You are required to report income or losses for your corporation annually.

 

[paras1991]

If you need help with your company, my firm can help.. I work for CPA firm..Altman and Sugar CA...3100 steeles ave west, Concord, ON