--- title: "Starting and Incorporating a Business in Canada" url: https://www.everstonecpa.com/starting-a-business-hub description: "Starting and incorporating a business in Canada — guides on structure, registration, first-year setup and the accounts you must open. Start here." type: service-or-info updated: 2026-10-08 summary: "A Canadian business starts as a sole proprietorship or a corporation, and the choice affects tax, liability and paperwork from day one. This hub sequences the guides, checklists and calculators covering structure, registration, CRA accounts and the first year of filings, with a note on when each one is worth reading." faq_count: 6 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/) [Resources](https://www.everstonecpa.com/resources) Starting a business hub Topic hub # Starting and incorporating a business *in Canada* Updated 8 October 2026 Structure, registration, the accounts you have to open and the deadlines that start running the moment you do — every setup guide on this site, annotated and in order. [Get My Fixed Quote](https://www.everstonecpa.com/book-online)[Ask a Free Question](https://www.everstonecpa.com/quick-question) **Quick answer:** A Canadian business starts as a sole proprietorship or a corporation, and the choice affects tax, liability and paperwork from day one. This hub sequences the guides, checklists and calculators covering structure, registration, CRA accounts and the first year of filings, with a note on when each one is worth reading. The four steps, in the order they actually happen. Most guides to starting a business in Canada answer one question — should you incorporate, then stop. The harder part is next: which accounts to open and when, which deadlines start at once, and what can wait a year. This hub follows that sequence: the structure decision, registration and the accounts CRA expects, then the first-year filings that catch new owners out. Already incorporated? Skip to the checklists. ## Step one: sole proprietor or corporation - [Sole proprietor vs corporation](https://www.everstonecpa.com/incorporation-advice) — the honest comparison of tax, liability and administration, with the point where incorporating starts to pay for itself. Read this before anything else on the page. - [Incorporate or stay a sole proprietor in BC?](https://www.everstonecpa.com/blog/incorporate-vs-sole-proprietor-bc) — the same decision with British Columbia rates and the provincial detail. Read it if you are BC-based and want the specifics. - [Model the incorporation decision](https://www.everstonecpa.com/incorporation-calculator) — estimates the tax deferral available at your income level, so the decision has a number attached. Run it before booking any advice. - [When to incorporate, not whether](https://www.everstonecpa.com/sole-proprietor-vs-incorporation-timing) — the triggers and calendar timing once you have decided incorporation is coming. Read it if the answer is “yes, eventually.” - [Partnerships and their returns](https://www.everstonecpa.com/partnership-tax-return-canada) — the third structure, and the filing obligations that come with it. Read it if you are going into business with someone else. ## Step two: incorporating and getting registered - [New corporation setup checklist](https://www.everstonecpa.com/incorporation-checklist) — the accounts, registrations and records to put in place once the corporation exists. Work through it in the first month, not the first year. - [Just incorporated? What happens next](https://www.everstonecpa.com/blog/just-incorporated-now-what-canada-checklist) — the same ground in narrative form, including the obligations that begin the day the certificate is issued. Read it the week you incorporate. - [Choosing your fiscal year end](https://www.everstonecpa.com/blog/corporate-fiscal-year-end-canada-how-to-choose), a decision made once, difficult to change later, and worth five minutes of thought rather than defaulting to December. Read it before the first return is filed. - [Setting up CRA My Business Account](https://www.everstonecpa.com/blog/cra-my-business-account-setup-guide) — the portal where every account, balance and filing lives. Do this early; the identity verification takes longer than you expect. ## Step three: the accounts that come with revenue - [GST/HST registration](https://www.everstonecpa.com/blog/gst-hst-registration-guide-small-business) — when registration becomes mandatory, when to do it voluntarily, and how the account is opened. Read it as revenue approaches the threshold. - [Opening a payroll account](https://www.everstonecpa.com/blog/payroll-remittances-canada-rp-account) — the RP account, the remittance schedule and what has to happen before the first pay run. Read it before you pay anyone, including yourself. - [The GST/HST hub](https://www.everstonecpa.com/gst-hst-hub) — the full annotated set of sales tax guides, if registration is now on your list. - [The payroll hub](https://www.everstonecpa.com/payroll-hub) — the same for payroll, if you are about to hire. ## Step four: the first year of filings - [The corporate tax hub](https://www.everstonecpa.com/corporate-tax-hub) — the T2, its deadlines and the planning that precedes it, annotated the same way as this page. Your next stop once the first year end is in sight. - [Bookkeeping mistakes to avoid from day one](https://www.everstonecpa.com/blog/bookkeeping-mistakes-small-business) — the habits that make the first year end cheap instead of painful. Genuinely worth reading in month one. - [Bookkeeper, accountant or CPA?](https://www.everstonecpa.com/bookkeeper-vs-accountant-vs-cpa) — who does what, and which of them a new corporation actually needs. Read it before hiring anyone. - [What the first 90 days look like](https://www.everstonecpa.com/first-90-days) — how an engagement with this firm actually starts, if you would rather not do the setup alone. ## Structures you may grow into, or out of - [Holding companies](https://www.everstonecpa.com/blog/holding-company-canada-when-it-makes-sense) — when a second corporation adds protection or deferral, and the far more common case where it just adds cost. Read it only once there are retained earnings to protect. - [Business advisory](https://www.everstonecpa.com/advisory-services) — structuring, planning and the decisions that do not fit neatly into a filing deadline. - [Dissolving a corporation](https://www.everstonecpa.com/blog/dissolving-a-corporation-canada) — how to wind up cleanly if the structure turns out to be wrong, without leaving CRA accounts open behind you. The single most common mistake in this whole sequence is incorporating early for reasons that turn out to be social rather than financial. If you are not certain yet, run the calculator, read the timing guide, and let the numbers decide. About this page **EverStone CPA** Prepared and reviewed by a Chartered Professional Accountant at EverStone CPA, a CPA firm working fully online 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) Common questions ## Starting a business — common questions **Do I need to incorporate to start a business in Canada?** No. A sole proprietorship is a legitimate structure, costs almost nothing to run, and is how most Canadian businesses begin. Incorporation adds legal separation and tax planning room, but also adds annual filings, a corporate return and ongoing compliance. It is a tool for a specific stage rather than a mark of seriousness. [Ask about your case →](https://www.everstonecpa.com/quick-question) **What accounts do I need to open after incorporating?** A corporation needs a business number and a corporate income tax account, plus a separate business bank account. A GST/HST account is added once you cross the registration threshold or choose to register voluntarily, and a payroll account before the first person is paid. Each is a separate program account under the same business number. **When do I have to register for GST/HST?** Registration becomes mandatory once taxable revenue exceeds $30,000 over four consecutive calendar quarters, or within a single calendar quarter. Below that you may register voluntarily, which is often worth doing when start-up purchases carry recoverable sales tax and your customers are themselves registered businesses. **How do I choose a fiscal year end?** A corporation can choose any year end within the first year, and the choice affects when filings fall, how the first stub period looks and how well the deadline fits your seasonal cash flow. Changing it later generally requires CRA approval and a business reason, so it is worth deciding deliberately at the start. **Can I pay myself right away after incorporating?** Yes, but the method matters. Salary requires a payroll account, source deductions and remittances on a schedule. Dividends require the corporation to have the [retained earnings](https://www.everstonecpa.com/blog/retained-earnings-canada) to support them and are reported on a slip after the year. Money simply withdrawn without either becomes a shareholder loan with its own repayment rules. **Do I need a bookkeeper immediately?** You need a clean set of books from the first transaction; whether someone else keeps them is a separate question. Doing it yourself is workable if the accounts are set up properly at the start and reconciled monthly. What is expensive is a year of uncategorized transactions rebuilt from bank statements after the fact. ## Set it up right the first time Deciding whether to incorporate, or just incorporated and unsure what happens next? Tell us where you are and you will get a plain answer. [Get My Fixed Quote](https://www.everstonecpa.com/book-online)[Ask a Free Question](https://www.everstonecpa.com/quick-question) Tools and templates ## Free tools for this Practical templates and calculators you can use straight away — no charge and no sign-up. [Accounting for ecommerce and marketplace sellers](https://www.everstonecpa.com/ecommerce-accounting-hub) [Start here New to EverStone CPA? Who we serve, how fixed-fee pricing works, and the fastest first step: email your situation, get an answer, then send an enquiry.](https://www.everstonecpa.com/start-here) [Opening a business bank account what you need and why it matters](https://www.everstonecpa.com/blog/opening-a-business-bank-account-canada) [Business number and CRA program accounts: RC, RP, RT and RZ explained](https://www.everstonecpa.com/blog/business-number-program-accounts-canada) [Interest deductibility: what the borrowed money is used for](https://www.everstonecpa.com/blog/interest-deductibility-canada-business) [Business travel expenses: what the CRA accepts](https://www.everstonecpa.com/blog/travel-expenses-business-canada-cra) [Foreign exchange gains and losses: receivables, payables and the capital-versus-income line](https://www.everstonecpa.com/blog/foreign-exchange-gains-losses-business-canada) [Cellphone and internet: splitting business from personal use](https://www.everstonecpa.com/blog/business-use-of-cellphone-internet-canada) [Sole proprietor or partnership?](https://www.everstonecpa.com/sole-proprietor-vs-partnership) [New Corporation Setup Checklist A free checklist for a new Canadian corporation’s first ninety days, in dependency order: registration, CRA accounts, banking, books and deadlines.](https://www.everstonecpa.com/new-corporation-setup-checklist) [Incorporation Cost Worksheet (Free XLSX) A free worksheet listing every one-off and recurring cost of running a corporation, totalled separately, so the decision uses the number that matters.](https://www.everstonecpa.com/incorporation-cost-worksheet) [Monthly Bookkeeping Checklist A free one-page monthly bookkeeping routine: reconcile, categorize, review, file.](https://www.everstonecpa.com/monthly-bookkeeping-checklist) [Should you incorporate?](https://www.everstonecpa.com/should-i-incorporate) [Incorporate or stay a sole proprietor](https://www.everstonecpa.com/blog/incorporate-vs-sole-proprietor-canada) ## Every guide on this subject - [CPP for incorporated owners: salary vs dividends](https://www.everstonecpa.com/blog/cpp-for-incorporated-business-owners-canada) - [Dental practice incorporation: professional corporations, associates and equipment](https://www.everstonecpa.com/blog/dental-practice-incorporation-canada) - [Home office deductions for incorporated owners: what the corporation can and can’t pay for](https://www.everstonecpa.com/blog/home-office-deduction-corporation-canada) - [Home-office expenses for incorporated business owners](https://www.everstonecpa.com/blog/home-office-expenses-incorporated-business-canada) - [Federal or provincial incorporation: which one fits your business](https://www.everstonecpa.com/blog/incorporating-federally-vs-provincially-canada) - [Year-end tax checklist for incorporated business owners](https://www.everstonecpa.com/blog/year-end-tax-checklist-incorporated-owners) ### Starting fees Every fee is fixed in writing before any work begins. - **Monthly bookkeeping, sales tax filing included** from $325 a month - **Payroll, remittances, T4s and ROEs** included in monthly bookkeeping - **Books, payroll and the year-end T2 together** $500–$700 a month - **Corporate year-end and T2 return** fixed fee, quoted in writing - **Personal tax return (T1)** from $125; self-employed or rental $275–$500 - **Catch-up bookkeeping** from $2,200 per year of records - **Controller or CFO support** controller from $1,650, CFO from $2,750 a month - **One-off advice call with a CPA** $225 plus GST [Get My Fixed Quote](https://www.everstonecpa.com/book-online) --- Source: https://www.everstonecpa.com/starting-a-business-hub Prices: https://www.everstonecpa.com/pricing · Contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online