Registering an Internet Business

by Susan
(Toronto, Ontario, Canada)

How do I register an internet business with the government? (Canadian gov't)? and after it is registered, where do I go from there?


Answer:

It depends on what type of business you are starting over the internet. Are you selling products?

What the gov't is most interested in is making sure they get the retail and gst taxes for what ever you are selling. They don't care HOW you are selling, and the internet is just another marketing channel, you could sell the same products through stores, trade shows, home party plans, catalogues, from your home, etc.

If you are selling products then you need to apply for a vendor's permit (retail sales tax number) and if you plan to make over $30,000 a year you must also apply for a GST number.

Go to www.canadabusiness.ca it is a Government of Canada site for entrepreneurs they will guide you to apply for a vendor's permit and provides links to information about starting a business in Canada, organized by topic and province and territory.

And also visit www.cra-arc.gc.ca this will bring you to Canada Revenue Agency and will explain GST and how to apply.

After you have registered your business and applied for your tax numbers make sure you also talk to you insurance agent. Some home policies will not recognize a home business unless you let them know before hand.

You will also want to open a separate business account with your bank. It will be easier to keep track of business expenses and income with a separate business account than using your personal account.

I hope this helps
Gloria :)