If I register for a business number in Canada and provide my social Insurance number..?
.will my SIN other be "connected" beside my business? In other words, as far as Canada REvenue is concerned are they 2 different entities? I want to apply for Bus # for a sole propriatorship
Answers:
Yes, you and your business are duplicate endorsed entity. You can own as abundant trade name as you will, but you are still you. The solitary opening you'd be considered a different endorsed entity than your business is if your business become incorporated. Even afterwards, as director, you are still responsible for GST and Payroll, and can be instinctively assessed.
I believe your SIN and business are "connected" because one the sole propriator, as unwilling a "limited" company, you are one-sidedly liable (through your SIN) for any debts your business incurs.
Having said that, the SIN and Business registration numbers are still two different entities.
I go to my local library to register my sole propriatorship and they have a adjectives info unit on diverse ways of setting up a small business.
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Answers:
Yes, you and your business are duplicate endorsed entity. You can own as abundant trade name as you will, but you are still you. The solitary opening you'd be considered a different endorsed entity than your business is if your business become incorporated. Even afterwards, as director, you are still responsible for GST and Payroll, and can be instinctively assessed.
I believe your SIN and business are "connected" because one the sole propriator, as unwilling a "limited" company, you are one-sidedly liable (through your SIN) for any debts your business incurs.
Having said that, the SIN and Business registration numbers are still two different entities.
I go to my local library to register my sole propriatorship and they have a adjectives info unit on diverse ways of setting up a small business.