Entrepreneurship & Small Business

DIY Provincial (ON) or Federal Business Incorporation 1-2-3 & Save your money

  • Last Updated:
  • Jan 20th, 2019 1:03 pm
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Newbie
Oct 11, 2018
1 posts
Hello,

Can anyone guide me as to the best way to incorporate. I got a new job as a private consultant for a bank and they need my articles of incorporated. I am not sure to be the sole owner or to register it between myself and my wife as she will be taking care of the accounting and I will be paying her a salary. Also we both are in real estate as well. I am real estate broker and my wife a mortgage agent. Are we able to use the same corporation # for our real estate income?
Sr. Member
Dec 27, 2005
543 posts
66 upvotes
Toronto, ON
Hello All,

I'm looking to incorporate with 3 directors .

We are looking at a Numbered Company with a child company .

Is easier to do it online?
Jr. Member
Mar 6, 2010
160 posts
39 upvotes
Brampton
dhtlee wrote:
Aug 14th, 2018 7:07 pm

By being an incorporated contractor, I can pay myself $25k/yr, i.e. ~$20k (after taxes, EI and CPP) as my personal income. This leaves ~$125k in the corporation subjected to corporate tax. Let's assume I incur $10k expense + $2k accountant fees, so ~$113k taxable income = ~$96k in corporation after corporate tax.
Can someone please clarify this point for me - How can a contractor who is incorporated obviously, pay CPP and EI?
Sr. Member
Aug 25, 2005
559 posts
18 upvotes
Mississauga
Hi
I am trying to complete the form for incorporation in Ontario. I need assistance with Article 6 and 7 of the form

Article 6: The classes and any maximum number of shares that the corporation is authorized to issue: ANSWER: UNLIMITED COMMON SHARES
" Rights, privileges, restrictions and conditions (if any) attaching to each class of shares and directors authority with respect
to any class of shares which may be issued in series"
Is there a generic answer - Will this answer work: The shareholders will have full rights and privileges and there are no conditions with respect to the common shares issued.
Newbie
Jun 14, 2017
11 posts
3 upvotes
Can a non-resident self incorporate by going to Service Ontario? I am asking on a behalf of my non Canadian relative.
[OP]
Deal Guru
Aug 2, 2010
14312 posts
4181 upvotes
Here 'n There
fhirji wrote:
Nov 22nd, 2018 4:45 pm
Hi
I am trying to complete the form for incorporation in Ontario. I need assistance with Article 6 and 7 of the form

Article 6: The classes and any maximum number of shares that the corporation is authorized to issue: ANSWER: UNLIMITED COMMON SHARES
" Rights, privileges, restrictions and conditions (if any) attaching to each class of shares and directors authority with respect
to any class of shares which may be issued in series"
Is there a generic answer - Will this answer work: The shareholders will have full rights and privileges and there are no conditions with respect to the common shares issued.
Given it says 'if any' that allows you to just leave it blank.
Sr. Member
Aug 25, 2005
559 posts
18 upvotes
Mississauga
eonibm wrote:
Jan 20th, 2019 9:27 am
Given it says 'if any' that allows you to just leave it blank.
Eonibm
Thank you for your clarification
Newbie
Jul 24, 2018
1 posts
Eonibm, thanks. I was able to incorporate with the help of your thread. This may be a dumb question but I can't find anywhere that confirms whether I have to actually print and store physical share certificates. Is this a requirement?

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