CRA Forms for Paid Orders
Please read the instructions and then fill in the form
Through this form, information is collected SECURELY. Upon receiving information, our accountant will set up your CRA accounts and will provide you account numbers in email. For assistance, please read the guidelines below this form.
FAQ
CRA Identity Validation of Director/Owner
Any one director/owner's information is good enough. If you have multiple directors, choose the one that is Canadian citizen or Permanent Resident.
FAQ
Instructions to Answer the Questions
Because this is the initial year for this business, you may not know the answers exactly. In this case, make the best guess and put an answer. After all, these information is used only for initial registration and will be updated accordingly in your next annual returns. Therefore, feel free to answer on your best guess.
- Normally fiscal year-end is December 31 for most companies. If you want a different one, please select the month and enter the date
FAQ
Payroll Account Info
Skip this part if you didn't ordered
FAQ
Can I modify this info later?
Yes, definitely can. This is just initial set up, these answers will be updated at the end of the year when you do your annual returns.
Should I take salary or dividend?
This is the biggest question. There are advantages and disadvantages for either of this choice. Most people make balance between these two. They take some amount in salary and some amount in dividends. For just initial set up, you can make a choice and you can always change this answer when you make a firm decision after consulting with an accountant. If you need accounting advice, you may consult any accounting firm or our onsite chartered accountant by additional fees of $99.
How much salary should I pay myself?
well, this is a question of your accounting plan. Setting up a higher salary has some disadvantages and advantages too. For initial account set up, you may choose any amount as of best guess. You can change this information any time when you consult your accountant. If you need accounting advice, you may consult any accounting firm or our onsite chartered accountant by additional fees of $99.
I'm not sure, I will hire an employee or not
If you are uncertain, that's fine. Just answer as of your current situation. As of now are you planning to have an employee other than yourself? You can always update this answer with CRA.
Export Import Account Info
Skip this part if you didn't ordered
FAQ
What is considered export or import?
Export or import applies to any PHYSICAL products or items that will cross the border of Canada; either will come from outside to Canada or will go from Canada to outside. SERVICE is NOT included in export or import. If you are in Canada and taking service over phone or internet from overseas, that's not an import.
Why do I need to provide this information?
Well, if you do any import or export of goods or items, it will cross border of Canada and you gonna need customs clearance. Declaring it with CRA is the first step of this process.
Final Review
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