We incorporate businesses federally and provincially, and provide assistance with GST/HST registration.
When starting a new business, many choose to incorporate, and for good reason. By incorporating in Canada, whether provincially or federally, you are creating a separate legal entity, which sets the company apart from the shareholders who own it. The company can own assets, enter into contracts, and sue and be sued, in the same way as a natural person. Its existence is not reliant upon any one director or shareholder, but rather has the benefit of continued existence beyond the death or retirement of its owners.
Shareholders are generally not liable for the debts and obligations of the company. If the company is in debt or is being sued, the shareholders are not the ones responsible for any more than what they invested in the company. There are also a number of tax benefits to incorporation such as lower income tax rates and the ability to carry over losses to subsequent years in order to lower taxes paid in the years in which profits are earned.
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