New Businesses and Taxation
Changes have been made to the QST system since this document was published. The text is in the process of being updated to reflect these changes.
This publication is intended for small and medium-sized businesses. It briefly describes the various legal forms of business organization: sole proprietorship, partnership and corporation.
Most of the information provided concerns the tax consequences of operating a business. The topics discussed include
- the procedure for registering for the GST, the QST and source deductions;
- the fiscal obligations of businesses, as well as the tax credits, deductions, GST and QST refunds, and other advantages businesses may claim;
- the administrative formalities required by certain government departments and agencies in order to start a business.