1. You’ll Receive Your CRA Business Number
After incorporation, the Canada Revenue Agency (CRA) automatically assigns a business number to your corporation. This number will be sent to your registered office address and serves as the unique identifier for your corporation when interacting with federal programs and agencies.
The business number is the foundation for registering additional CRA accounts, including:
- GST/HST
- Payroll deductions
- Import/export accounts
Note: Whether or not you register for a GST/HST account depends on your business activities and revenue. If you expect to earn more than $30,000 in taxable revenue annually, registration may be mandatory. Speak with an accountant to determine when and how to register.
2. Decide Whether to Register for GST/HST
Corporations that sell taxable goods or services in Canada may be required to collect and remit GST/HST. While you’re not automatically enrolled during incorporation, you can register voluntarily at any time, even before reaching the $30,000 threshold.
Voluntary registration may allow you to claim input tax credits on business purchases, so it’s worth discussing with your accountant to determine the best approach based on your expected revenue and expenses.
3. Annual Compliance and Corporate Maintenance
Incorporation is not a one-time event. Every Ontario corporation is required to maintain accurate corporate records and meet annual compliance obligations, including:
- Holding an annual shareholders’ meeting (or preparing a written resolution)
- Holding an annual directors’ meeting (or preparing a written resolution)
- Filing an annual return with the Ontario Business Registry
- Keeping your minute book up to date with current registers of shareholders, directors, officers, and individuals with significant control
SkyLaunch provides a digital Minute Book as part of its curated incorporation package, containing your core organizational documents, which includes a standard of corporate by-laws that define the internal rules and procedures, covering directors’ roles, shareholders’ meetings, and conflict resolution mechanisms.
Annual compliance and corporate maintenance is your responsibility going forward unless you opt for our Complete Compliance Package, in which case we can help you stay on top of these annual obligations and keep your records current.
4. Consider Extra-Provincial Registration (If Applicable)
If your corporation plans to carry on business in a province other than Ontario, whether by opening an office, hiring employees, or offering services there, you may need to register as an extra-provincial corporation in that jurisdiction.
Each province has its own rules for determining when extra-provincial registration is required. For example:
- Hiring employees in another province
- Opening a storefront, office, or warehouse
- Actively marketing or selling into that province
Legal advice is recommended if you're unsure whether your business activities qualify as “carrying on business” in another province. SkyLaw can assist with extra-provincial registrations or licensing requirements if needed.
5. If You Have Employees, Register for Payroll Accounts
If your new corporation plans to hire employees, you’ll need to register for a CRA payroll deductions account. This allows you to withhold and remit income tax, Canada Pension Plan (CPP), and Employment Insurance (EI) on behalf of your employees.
You may also need to comply with provincial employment standards in the province where your employees are based. Again, legal or accounting advice can help ensure compliance across jurisdictions.
Final Thoughts
Incorporation is a strong foundation, but maintaining your corporation takes ongoing attention. From annual filings to tax registrations, each step plays a role in keeping your business in good standing.
SkyLaunch provides the tools to incorporate properly and access your corporation’s core documents digitally. Ongoing compliance decisions—like registering for GST/HST or extra-provincial activity—may require professional advice to ensure your corporation stays compliant and efficient as it grows.
