How much does it cost to register your business in Canada? Particularly in Toronto.

Anyone know?

Thanks.

Here in Montreal it cost me $32 cdn to register a sole ownership company.

In Ottawa i paid 95$

$360 to incorporate a company in Ontario. Might want to go to Chapters and get an incorporation book, it really helps for the first time... covers the costs, differences between corporation, sole, partnership, etc., where to go, everything you need to know. BTW, there is a place downtown and one in Barry, go to Barry if it is same distance cause less busy. You also have to do a namesearch before, and you bring the papers when you go to incorporate.. go here for more info (http://www.ontario-canada.com/medt/edtlib.nsf/DocumentsById/36E2B462102875B68525695B006613D2?OpenDocument) .

For Ontario :

As per ::
http://www.cbs.gov.on.ca/obc/english/4TG2B6.htm

The fee for business name registration is $60, payable by cash, personal/business cheque, money order, certified cheque, American Express (AMEX), MasterCard or VISA. The fee for a business name search is $8, also payable by the above methods.
(assuming Sole Proprieter only - you own and are personally legally liable)

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To register as a Corporation, Inc, Limited etc. ::
http://www.cbs.gov.on.ca/obc/english/4TY5GF.htm

You must decide if you want to be incorporated Provincially or Federally.

We personally used the services of http://incorporate-it.ca to incorporate our business from a sole proprietorship.

They now charge $309.95 for their services PLUS $360 payable to The Minister of Finance (we used them in 1998) totalling $669.95

This is another online incorporation service for Canada


http://www.e-incorp.ca/

Try doing it offshore - ask an accountant how. From what I heard the taxes in Canada are VERY high.

Originally posted by FindSP.Com
Try doing it offshore - ask an accountant how. From what I heard the taxes in Canada are VERY high.

Yes they are. For an example in Montreal, province of Quebec.

You have to pay 20-30% to Quebec.
You have to pay 20-30% to Canada.

So, you pay between 40 to 60%.

Of course, it depends how much you make and many other things, but that's just to get an idea of it.

Also, when you buy something like a computer, you pay 15% taxes. (GST+QST (Quebec Sale Tax, i think that's what it's called).

OT: Where's the best place place in the US for tax? I don't mean when you buy something but on your salary. What about California and Florida?

There are actually TWO taxes to consider (Ontario, Canada).

SALES tax and INCOME tax


SALES TAX (has two taxes in it as well)
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PST (Provincial Sales Tax) is 7%
GST (Goods and Services Tax) is 8%

If you buy something, you are charged PST and GST, but is you are a business, you can claim a GST credit.

To do this you must have a Business GST number in order to make your GST claim.

So, if you are a business in Ontario Canada and you purchase something in Ontario, you pay 15% tax up front. If you have a GST number, you can claim back the GST

INCOME TAX
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now thats another story..... depends on income, expenses etc. Typically they say is 10-30%