Budget-Friendly Nominee Director Services for Canadian Businesses

Online banking is the simplest route: add the CRA as a payee, select the account and tax year precisely, and pay from your chequing account. CRA My Payment takes debit card payments, and pre-authorised debit can be scheduled in My Account or My Business Account for a single amount or a run of instalments. Corporations and GST/HST registrants use the same channels under their business number. Keep the confirmation number and allow several days for the payment to post.

No. Capital is the owner's stake in the business, so it sits in equity, not liabilities. On a balance sheet, assets equal liabilities plus equity, and the capital account belongs on the equity side alongside retained earnings. Money the owner lends the business is different, because the business owes it back, and that is a liability. Keeping owner capital, owner loans and drawings in separate accounts prevents a messy reconciliation at year end.

In Canada the question really asks about your structure, because a Canadian return has no classification box. You are an employee, a sole proprietor reporting business income on your personal return, a partner in a partnership, or a corporation that files its own return. Forms sent by foreign clients often demand this before they will pay you. Answer with the structure that legally exists, decided by how you registered, not by how you describe the work.

For an unincorporated business the 2025 return was due 15 June 2026 because of self-employment, but any balance owing had to be paid by 30 April 2026. For an incorporated business the T2 return is due six months after the fiscal year end, with the balance due two months after year end, or three months for an eligible Canadian-controlled private corporation claiming the small business deduction. GST/HST returns and payroll remittances run on their own separate schedules.

Slips issued to you, including T5s, appear under tax information slips in CRA My Account once the issuer files them, usually by early March for the prior year. You can also pull them into most certified software with Auto-fill my return. A slip that has not been filed yet will not show, so report the income from your own records if you know the amount. Missing a slip does not excuse leaving the income off.

Your business number appears on every CRA notice, statement of account and remittance voucher, on GST/HST and payroll correspondence, and in My Business Account once you sign in. It is also on the confirmation issued when the account was opened, and on incorporation paperwork if the number came with registration. If nothing is to hand, the CRA business enquiries line can confirm it once it verifies that you are authorised to ask.

There is no single cut-off. The Canada Child Benefit starts from a maximum per child and is reduced once adjusted family net income passes a first threshold, at a reduction rate that depends on how many children you have, with a different rate applying above a second threshold. A family with several children can still receive something at a fairly high income, while a one-child family phases out sooner. The CRA's child benefit calculator gives your own figure.

Yes, line 10100 is your employment income, mainly the total of box 14 from each T4. A T4A is not employment income: it reports other amounts such as pensions, scholarships, self-employed commissions or fees for services, and those go on different lines. Employment income can exceed your salary because taxable benefits, bonuses, employer-reported tips and certain allowances are included in box 14. The amount is gross, before income tax, CPP and EI are withheld.

Yes. Paid parking in Ontario is a taxable supply, so 13% HST applies to lot, garage, meter and app-based parking and to monthly parking rentals. Municipal meters and hospital lots charge it too, usually included in the posted rate. Parking supplied to a tenant as part of a long-term residential lease can be exempt with the rent. If you park for business and are registered, the HST is generally recoverable as an input tax credit.

The GST/HST credit is paid quarterly and there is no fixed clock time. A direct deposit is released on the payment date and most banks post it that morning, though some show it overnight before and others later in the day. Cheques take longer in the mail. The year's payment dates are on the CRA's benefit payment dates page, and My Account shows your next amount. Wait a few business days before reporting a missing payment.

Deductions begin with your first pay. Your employer withholds income tax once pay for the period exceeds the credits you claimed on the federal and provincial claim forms you completed when hired; the federal basic personal amount for 2026 is $16,452, tapering to $14,829 at higher net income, spread across the year. CPP and EI come off separately from the start: CPP 5.95% in 2026 with a $3,500 basic exemption, EI $1.63 per $100 of insurable earnings.

Sign in to My Business Account and use the option to add a business, then enter the business number. The CRA links it once it can confirm you are an owner, director or authorised officer of that business. If the business has no number yet, register one first through Business Registration Online. Someone acting for the business instead needs a Represent a Client authorisation, which the owner confirms from their own My Business Account.