Should You Incorporate Your Business in Ontario?
Incorporation is one of the most important financial decisions you'll make as a business owner. Done at the right time and in the right way, it can significantly reduce your tax bill, protect your personal assets, and set your business up for long-term growth.
Benefits of Incorporation in Canada
- Lower corporate tax rate (as low as 12.2% in Ontario for the first $500K)
- Personal liability protection — your personal assets are separate from business debts
- Income splitting opportunities with family members
- Tax deferral — leave money in the corporation and pay personal tax later
- Enhanced professional credibility
What We Handle for You
- Federal or Ontario provincial incorporation
- Choosing the right share structure for your situation
- Setting up your minute book and corporate records
- HST registration with CRA
- Payroll account setup
- Setting up your bookkeeping from day one
When Is the Right Time to Incorporate?
Generally, incorporation makes sense when your business is earning more than $50,000–$80,000 per year in profit. our CPA will review your specific situation and give you an honest recommendation.