reseller licence

[allgood]

hi
i'll b moving to canada hopefully by july-august
im planning of doing some home based reselling business.
can any one here give me some information regarding this matter plz
and one more thing,
what kind of legal documentation is required?
i got to know some kind of licence is also needed.
is it easy to obtain one as i'l be very new there.
plz help
thanks

 

[mediajunkie]

The first thing you will have to do is register for a business license with the province you are settling down in.

After that you will have to register for a PST/GST number, or if you live in one of the provinces that use or will be adopting HST in July (BC, Ontario), you will have to register for that.

The Tax numbers allows you to collect sales taxes on goods sold from individuals. All taxes collected must be filed with the government come tax time. Any profits that you make must be subjected to corporate tax.

Since you are not familiar with Canadian tax law, it would be wise to consult a professional accountant on what is needed to set up a business. The accountant might be able to give you advice on what can be written off for your business. For example, if you have to use your car to get to clients or for deliveries, you can write off gas expenses as a business expense.

The accountant will also be able to advise you on how to keep business records and a balance sheet. The Canadian government loves collecting their taxes (it pays for healthcare and the roads and other social insurance programs) and tax evasion is a serious crime.

After you become more familiar and comfortable with the laws after a fiscal period or two you can do away with the accountant.

 

[allgood]

OMG...
thats too complicated....i thought it was as simple as....getting ur shipment and bring it home and start selling online or from home....i didnt hav any slightest of the idea that this wud be soo difficult n yes v v complicated

and wat i was thinking.....to get my shipment clearance i will require a licence
thanks for the details