--- title: "Just Incorporated? Your Canada Checklist | EverStone" url: https://www.everstonecpa.com/blog/just-incorporated-now-what-canada-checklist description: "Just incorporated in Canada? A step-by-step checklist: CRA accounts, bank account, minute book, GST/HST, payroll, and your first T2 deadline." type: guide updated: 2026-10-04 summary: "After incorporating, register your CRA Business Number and the program accounts you need, open a dedicated corporate bank account, start a minute book, pick your fiscal year-end , decide on GST/HST registration. Then set up payroll if you’ll pay yourself a salary, choose a bookkeeping system, and mark your first T2 filing deadline — six months after your year-end." faq_count: 7 publisher: EverStone CPA Inc., a Chartered Professional Accountant firm registered with CPA British Columbia and CPA Alberta service_area: British Columbia, Alberta, Ontario and Manitoba language: en-CA contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online --- [Home](https://www.everstonecpa.com/) [Blog](https://www.everstonecpa.com/blog) Just Incorporated? Your Canada Checklist Incorporation # Just incorporated? *your action checklist* By EverStone CPA · Updated August 2026 · 8 min read Quick answer **Quick answer:** After incorporating, register your CRA Business Number and the program accounts you need, open a dedicated corporate bank account, start a minute book, pick your [fiscal year-end](https://www.everstonecpa.com/glossary#fiscal-year-end), decide on GST/HST registration. Then set up payroll if you’ll pay yourself a salary, choose a bookkeeping system, and mark your first T2 filing deadline — six months after your year-end. Work through these in roughly this order and nothing falls through the cracks. Valley businesses also need a municipal licence: [how the Fraser Valley inter-municipal licence works](https://www.everstonecpa.com/fraser-valley-business-licence). **Deciding how to pay yourself in year one?** Enter your company’s profit in [our 2026 pay planner](https://www.everstonecpa.com/salary-vs-dividends-calculator): it works out corporate tax, CPP and personal tax at every salary level for 2026 and shows the split that leaves you the most. **On this page**[1. Get your CRA Business Number and program accounts](#s-1-get-your-cra-business-number-and-progr)[2. Open a dedicated corporate bank account](#s-2-open-a-dedicated-corporate-bank-accoun)[3. Start and maintain your minute book](#s-3-start-and-maintain-your-minute-book)[4. Choose your fiscal year-end](#s-4-choose-your-fiscal-year-end)[5. Decide on GST/HST registration](#s-5-decide-on-gst-hst-registration)[6. Set up payroll if you’re paying yourself a salary](#s-6-set-up-payroll-if-you-re-paying-yourse)[7. Choose a bookkeeping system](#s-7-choose-a-bookkeeping-system)[8. Know your first T2 deadline](#s-8-know-your-first-t2-deadline)[9. Plan how you’ll pay yourself](#s-9-plan-how-you-ll-pay-yourself)[The bottom line](#s-the-bottom-line)[Frequently asked questions](#s-frequently-asked-questions)[Just incorporated and not sure where to start?](#s-just-incorporated-and-not-sure-where-to-) Work through these in roughly this order. **Rather have a CPA handle this?** A CPA at EverStone replies with a straight answer and a fixed fee for your situation. [Get My Fixed Quote →](https://www.everstonecpa.com/book-online?service=planning#enquiry-form) ## Key takeaways - Register the CRA program accounts your corporation actually needs (RC, and RT/RP/RZ if applicable). - Never mix personal and business money — open a separate corporate account immediately. - GST/HST registration is only mandatory once revenue passes $30,000. - Your first T2 is due six months after year-end; balance owing is due sooner (2 or 3 months). - Decide your salary vs. dividend mix before you take your first payment from the company. The paperwork to incorporate is the easy part. What actually protects the liability shield and keeps you offside with the CRA is what you do in the weeks after. Here’s the order we walk new incorporated clients through. ## 1. Get your CRA Business Number and program accounts Your **Business Number (BN)** is your corporation’s master identifier with the CRA. Once you have it, you register the specific **program accounts** that apply to your situation — the guide to [business numbers and CRA program accounts](https://www.everstonecpa.com/blog/business-number-program-accounts-canada) explains what RC, RP, RT and RZ each cover: - **RC** — corporate income tax (every corporation needs this) - **RT** — GST/HST, once you’re registered or required to be - **RP** — payroll, if you or any employee will be paid a salary - **RZ** — information returns, needed if you’ll issue T4A or T5 slips You don’t need every account on day one — only add RT, RP or RZ when they actually apply, so you’re not filing empty returns. **Incorporated, or about to be?** We prepare the T2 and year-end statements at a fixed fee quoted in writing before any work starts, and plan how you pay yourself. See [our corporate tax work](https://www.everstonecpa.com/tax-services), or [get a year-end quote](https://www.everstonecpa.com/book-online?service=planning#enquiry-form). [Get My Fixed Quote](https://www.everstonecpa.com/book-online?service=planning#enquiry-form) ## 2. Open a dedicated corporate bank account Your corporation is a separate legal person, and its money needs to stay separate from yours. Running personal expenses through the business account (or vice versa) muddies your bookkeeping, makes CRA reviews harder to defend, and can undermine the liability protection incorporation is supposed to give you. Open the account before your first invoice goes out. That second step is worth completing before revenue starts arriving rather than after. The guide to [opening a business bank account](https://www.everstonecpa.com/blog/opening-a-business-bank-account-canada) sets out what the bank asks for and how to set the accounts up so the bookkeeping works from day one. ## 3. Start and maintain your minute book Your **minute book** is the corporation’s official paper trail: articles of incorporation, share issuances, director and officer appointments, annual resolutions, and banking authorizations. It’s a legal requirement in every province, and it’s the first thing a lender, buyer, or the CRA will ask for if there’s ever a dispute or a sale. Keep it current every year, not just at incorporation — the guide to [keeping a minute book](https://www.everstonecpa.com/blog/keeping-a-minute-book-canada-corporation) sets out exactly what belongs in it. ## 4. Choose your fiscal year-end Unlike individuals, a corporation isn’t locked to December 31 — you can choose a fiscal year-end that suits your business, as long as your first year doesn’t exceed 53 weeks. Many owner-managers align it with a slow season to make year-end work and tax planning easier. Not sure how this applies to you? Every corporation’s situation is different. Send an enquiry to a CPA and get a straight answer, plus a fixed quote before any work starts. [Send an Enquiry →](https://www.everstonecpa.com/book-online?service=planning#enquiry-form) [See fixed fees](https://www.everstonecpa.com/pricing) ## 5. Decide on GST/HST registration Registration is **mandatory once your taxable revenue exceeds $30,000** over any four consecutive calendar quarters, or in a single quarter. Below that, you’re a small supplier and it’s optional — though many new corporations register early anyway to recover GST/HST on startup costs through input tax credits. See our full [GST/HST registration guide](https://www.everstonecpa.com/blog/gst-hst-registration-guide-small-business) for the details. ## 6. Set up payroll if you’re paying yourself a salary If you plan to draw a salary rather than (or alongside) dividends, you’ll need the RP payroll account, source deductions set up correctly, and T4 slips issued at year-end. This needs to be running *before* your first paycheque, not reconstructed after the fact. ## 7. Choose a bookkeeping system Clean, real-time books make every other item on this list easier — your GST/HST filings, your T2, your ability to see cash flow, and your defence if the CRA ever asks questions. Set this up in month one, not in a panic before your first filing deadline. ## 8. Know your first T2 deadline Your **T2 corporate income tax return is due six months after your fiscal year-end**. The balance owing, however, is typically due sooner: **two months** after year-end for most corporations, or **three months** after year-end for a Canadian-controlled private corporation ([CCPC](https://www.everstonecpa.com/glossary#ccpc)) that claims the small business deduction and meets the other conditions. Missing the balance-due date triggers interest even if you file the return itself on time. ## 9. Plan how you’ll pay yourself Salary and dividends are taxed differently for both you and the corporation, and the right mix depends on your personal cash needs, whether you want RRSP room and CPP contributions, and your total combined tax rate. Decide this with your accountant before your first payment — changing course later is harder than planning it up front. ## The bottom line None of these nine steps is complicated on its own — the risk is doing them out of order or not at all. Most of our new-incorporation clients hand us this whole list on day one so nothing gets missed while they focus on running the business. Our [incorporation calculator](https://www.everstonecpa.com/incorporation-calculator) is a good starting point if you’re still deciding whether to incorporate at all. Sources - [Canada Revenue Agency — Business number registration](https://www.canada.ca/en/services/taxes/business-registration.html) - [Canada Revenue Agency — Corporation income tax](https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations.html) - [Canada Revenue Agency — Payroll](https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll.html) - [Canada Revenue Agency — GST/HST](https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/gst-hst-businesses.html) This article is general information for Canadian business owners and is current as of July 2026. It is not tax, legal or accounting advice, and it does not create a client relationship. Tax rules change and your situation is unique, so please [speak with a CPA](https://www.everstonecpa.com/book-online?service=planning#enquiry-form) before acting on anything here. About this article **EverStone CPA** Prepared and reviewed by a Chartered Professional Accountant at EverStone CPA, a CPA firm working with small and midsized businesses in BC, Alberta, Ontario and Manitoba. [About the firm →](https://www.everstonecpa.com/about) · [Send an enquiry →](https://www.everstonecpa.com/book-online?service=planning#enquiry-form) This article is general information, not tax or legal advice for your specific situation. Confirm your registration requirements and deadlines with the CRA or with us. We take newly incorporated owners through this checklist remotely across BC, including [Vancouver](https://www.everstonecpa.com/accountant-vancouver). One item deserves its own entry in your calendar from day one: the registry annual return, which is separate from the T2 and can end in administrative dissolution if it is skipped. See [the corporate annual return, BC versus federal](https://www.everstonecpa.com/blog/corporate-annual-return-bc-vs-federal). Two free tools help with the first year: the [T2 deadline calculator](https://www.everstonecpa.com/t2-deadline-calculator) for your first return, and the [salary vs dividends calculator](https://www.everstonecpa.com/salary-vs-dividends-calculator) for paying yourself. [Printable 12-step setup checklist →](https://www.everstonecpa.com/incorporation-checklist) ### Related articles [Incorporation calculator →](https://www.everstonecpa.com/incorporation-calculator) [Incorporate vs. sole proprietor →](https://www.everstonecpa.com/blog/incorporate-vs-sole-proprietor-bc) [Tax services →](https://www.everstonecpa.com/tax-services) [Accounting & bookkeeping →](https://www.everstonecpa.com/accounting-services) [Payroll remittances & your RP account →](https://www.everstonecpa.com/blog/payroll-remittances-canada-rp-account)[Choosing your fiscal year-end →](https://www.everstonecpa.com/blog/corporate-fiscal-year-end-canada-how-to-choose)[Set up CRA My Business Account →](https://www.everstonecpa.com/blog/cra-my-business-account-setup-guide) [How to dissolve a corporation →](https://www.everstonecpa.com/blog/dissolving-a-corporation-canada) [Lawyers: where your incorporation clients go next →](https://www.everstonecpa.com/for-lawyers)[The January Checklist for Incorporated Owners →](https://www.everstonecpa.com/january-owner-checklist) FAQ ## Frequently asked questions about just Incorporated? Your Canada Checklist **What’s the first thing to do after incorporating?** Get your CRA Business Number and register the specific program accounts your corporation needs — at minimum the RC corporate income tax account, plus RT (GST/HST), RP (payroll), or RZ (information returns) if they apply to you. Then open a dedicated corporate bank account so your business and personal finances stay separate from day one. **Do I need to register for GST/HST right away?** Only once your revenue exceeds $30,000 over any four consecutive calendar quarters, or in a single quarter — below that you’re a small supplier and registration is optional. Many new corporations register voluntarily earlier if they have startup expenses, so they can recover the GST/HST paid on those costs. **When is my first corporate tax return due?** Your T2 [corporate tax return](https://www.everstonecpa.com/corporate-tax-return-t2) is due six months after your fiscal year-end. Any balance owing is generally due two months after year-end, or three months after year-end if you’re a Canadian-controlled private corporation claiming the small business deduction and meeting certain conditions. **Should I pay myself salary or dividends?** It depends on your personal cash needs, whether you want to build RRSP room and CPP contributions, and your province’s combined corporate/personal tax rates. Most owner-managers use a blend of both. This is worth planning with your accountant before you take your first payment, since it also affects payroll registration. **Do I need a minute book?** Yes. A minute book is the official record of your corporation’s key decisions — share issuances, director and officer appointments, annual resolutions, and banking authorizations. It’s a legal requirement, and lenders, buyers and the CRA may ask to see it. **Do I need to register every CRA program account right away?** No. Every corporation needs the RC corporate income tax account, but RT for GST/HST, RP for payroll and RZ for information returns should only be added when they actually apply. Registering an account you do not need means CRA starts expecting returns you have nothing to report on, which creates filing obligations and penalties you could have avoided. **Why does mixing personal and business money matter so much?** Because the corporation is a separate legal person and that separation has to be real in practice. Running personal spending through the business account muddies the bookkeeping, makes a CRA review harder to defend, and can undermine the liability protection incorporating was meant to provide. Open a dedicated corporate account before the first invoice goes out. ## Just incorporated and not sure where to start? We set up new corporations end to end — CRA accounts, bookkeeping, payroll and your first T2. Send an enquiry. [Get My Fixed Quote](https://www.everstonecpa.com/book-online?service=planning#enquiry-form)[Book a Paid Advice Call](https://www.everstonecpa.com/advice-call) [← Investment income inside a corporation: refundable tax, dividend refunds and integration](https://www.everstonecpa.com/blog/investment-income-in-a-corporation-canada) [The corporate minute book: what belongs in it, and why it gets asked for →](https://www.everstonecpa.com/blog/keeping-a-minute-book-canada-corporation) More on this subject: [all start-up topics](https://www.everstonecpa.com/starting-a-business-hub). ## Have a question about this? Ask it free through [the quick-question form](https://www.everstonecpa.com/quick-question) and a CPA replies by email within one business day. For something that needs a proper look, a one-off **Advice Call** is a paid 45-minute session with a Chartered Professional Accountant: $225 plus GST, booked by email or phone with a secure payment link. It is credited against your first invoice if you become a client within 60 days. Looking for an accountant to take this on rather than an answer? [Send an enquiry](https://www.everstonecpa.com/book-online?service=planning#enquiry-form). [Ask a Free Question](https://www.everstonecpa.com/quick-question) [Book a Paid Advice Call](https://www.everstonecpa.com/advice-call) Email info@everstonecpa.com ★★★★★ “…We switched to him last year for both our personal and small-business taxes — responsive, knowledgeable and quick.” Heather Powers · Google review --- Source: https://www.everstonecpa.com/blog/just-incorporated-now-what-canada-checklist Prices: https://www.everstonecpa.com/pricing · Contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online