Ensure your business is operating in a proper manner by registering it properly and completely. Name Approval If you want to use a business name that is anything other than your personal name, you will need to have your business name approved and then register your business with the Corporate Registry. Name Registration Once the name is approved you must have it registered. You can do this online with the OneStop Business Registry service.
Provincial Sales Tax (PST) and Hotel Room Tax (HRT) You may be required to register to collect and remit provincial sales tax (PST) or hotel room tax (HRT). The requirement to register is based on the type of business activities you are engaged in. With the GST (the federal goods and service tax), you do not have to register if you are not making a certain amount of sales. The rules around the PST and HRT are different, so you will need to be familiar with them. WorkSafe BC If you are hiring employees, or are incorporated, you will need to register with WorkSafe BC. You need to know your roles and responsibilities and be familiar with WCB regulations.
Goods and Services Tax / Harmonized Sales Tax (GST / HST) Account Until you reach $30,000 in revenue in any four quarter period, it is optional to register for GST/HST. This means that until your business has sales of $30,000 in any one-year period, you are not required to register for GST/HST. Without a GST/HST number, you are not able to charge GST/HST nor are you able to receive an input tax credit for your GST/HST expenses.
Payroll Deductions Account If you are hiring employees and pay salary, wages, bonuses, vacation pay or tips to your employees, or you provide a benefit to employees such as board and lodging, you need to register for a payroll deductions account in order to remit Income Tax, Canada Pension Plan (CPP) and Employment Insurance (EI) payments.
Import/Export Account If you are going to import or export commercially, you need to register with the Canada Border Services Agency. Municipal Business Licenses You must check with the municipality/municipalities where your business operates to find out about obtaining a municipal business license.