Connecting the Corporation with CRA

Author: GenNext Chartered Professional Accountants | | Categories: Business Consulting , Business Setup , Business Valuation Services

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Connecting the Corporation with CRA

Once the corporation has been created, one of the most common questions we receive from clients is, "How do I set up the tax account(s) and Business Number(BN)?" This is taken care of at the Federal level and should be requested when the incorporation has been certified. Often, when a corporation is formed, the lawyer/registrar/applicant fails to request this number. The establishment of this number typically only takes a few days and is mailed from CRA, if it is requested(applied for) to the corporate address listed on the paperwork. This notification from CRA, regarding the BN should be received in the mail within two weeks of the request. It is very important to follow up if the BN is not received within that time frame.

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With several years of experience, GenNext Chartered Professional Accountants is a leading accounting firm in Mississauga, Ontario. Our services include personal tax planning, business registration, business setup and consulting, bookkeeping and accounting, payroll, WSIB, HST, corporate tax, assurance, disability tax credit program, budgeting and forecasting services, insurance, mortgages, investments, real estate and legal services, business valuation services, estate planning services, litigation support and damage quantification services.

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