Set up your business in 5 minutes
Three short questions, then you can send your first invoice. Here is what each one does and how to change it later.
When you sign up, CollabNorth asks three questions. Each answer can be changed later, so pick what is true today and move on.
1. Sole proprietor or corporation?
- Sole proprietor means it is just you, and your business income goes on your personal tax return with a form called the T2125.
- Corporation means your business is incorporated and files its own tax return (a T2). We also ask for your year end.
Then add your business name and province. Your province sets which sales tax you charge by default.
2. Do you charge GST/HST?
- Yes if you have a GST/HST number. Enter it as 9 digits, then RT, then 4 digits, like 123456789RT0001. If your province also has its own sales tax (QST in Quebec, PST in BC and Saskatchewan, RST in Manitoba), you can add that number too.
- No if you are not registered. Your invoices won't add sales tax.
- Not sure sets you as not registered for now. Read Do I need to register for GST/HST? when you have a minute.
3. How do customers pay you?
Add the email you use for Interac e-Transfer. It is printed on every invoice so customers know where to send money. See Get paid by Interac e-Transfer.
Change it later
- Your name, address, business type and e-Transfer details: Settings, then Open business setup.
- GST/HST and provincial tax numbers: Settings, then Tax registrations. Each one has a start date, so past invoices keep the tax that applied then.
Next steps
- Follow the Get tax-ready checklist on Home. See The Get tax-ready checklist.
- Send your first invoice.