How to Form a Corporation in British Columbia
Forming a corporation in B.C.? Costs, shares, salary vs dividends, family trusts and tax benefits. Free 30-minute consult with our Maple Ridge accountants.
Maple Ridge office by appointment · or work with us remotely across BC.
WARNING: Avoid doing it yourself! Since accountants are unable to provide this service in British Columbia, we collaborate with knowledgeable lawyers who offer it for a fair price. For a free consultation, contact us.
Questions We Answer Before You Incorporate
- Looking to form a new corporation in Canada?
- What are the income tax benefits in Canada of creating a corporate structure?
- Maybe I should stay operating as a sole proprietorship?
- How much will it cost to incorporate? What about accounting and bookkeeping fees?
- Should I make my spouse a shareholder?
- What classes of shares should I own?
- What type of bookkeeping system will I need?
- Should I pay myself in dividends or a salary?
- Should a family trust own shares in my company?
- What is a professional corporation, and do I need one?
- What about income splitting and TOSI?
- What happens if I sell my business?
- What about rental property in a corporation? Does that qualify for the small business deduction and when?
- Can I have portfolio investments in my corporation? What are the tax consequences?
- What can I write off? What can't I write off?
- What is the difference between a federal and provincial company?
- Do I need to register for GST, WCB and payroll?
- What is the difference between Ltd, Inc, & Corp?
Contact us for answers to all these questions and more. We will give you the advice you need to make an informed decision and guide you through the entire process, with a free 30-minute consult. Call us before proceeding further - you will be glad you did!
Common questions
Should I incorporate my business?
It usually starts to pay once the business earns more than you need to live on, because profit left in the company is taxed at a lower rate until you take it out. We go through your numbers with you first.
Should I incorporate in BC or federally?
Most local businesses incorporate in BC. Federal makes sense if you will operate across Canada.
Named or numbered company?
A numbered company is quicker because it skips the name approval. A named company needs the name approved first.
Can I move my existing business into the company without paying tax?
Usually yes, with an election filed with CRA - and it has a deadline people miss.
How we can help
Accounting Services
Year-end, corporate and personal accounting for Maple Ridge businesses.
Learn more →Bookkeeping
Monthly books in QuickBooks, Sage and more, reconciled and ready for year-end.
Learn more →Income Tax
Personal, corporate, trust and estate returns, filed on time.
Learn more →Practice Areas
Year-end, T2, T1, trusts & estates, bookkeeping and GST/HST.
Learn more →About Us
Family-owned and serving Maple Ridge since 2002.
Learn more →Start with a 15-minute call
Tell us your year-end date, whether the books are current, and what CRA has sent you. You get the fee in writing before any work starts.
JD Tax & Accounting Inc.
Suite 300 - 22420 Dewdney Trunk Rd
Maple Ridge, BC V2X 3J5
Phone: 604-670-4256
Fax: 604-533-1732
Email: greg@jdtax.net
Maple Ridge office by appointment · or work with us remotely across BC.
We focus on corporate, bookkeeping, trust, and estate files. Personal tax is usually accepted when it is part of a corporate or estate matter.