Small business, GST and payroll Practical guide
Do I need to register for GST if I earned less than $30,000?
Usually not, but check two things. First, the $30,000 means your total sales, not your profit.
Life events › Starting a business
Starting a business
The first months of a business decide whether the records will hold up later: when to register for GST, which expenses are only partly deductible, what the vehicle log needs, and what the platforms report to the CRA. Savings and insurance change too, because there is no employer plan behind you.
How the pieces connect
- GST registration timing
- Expenses and records
- Vehicle log
- Platform reporting
- TFSA or RRSP without a pension
- Coverage without an employer plan
Insurance, TFSAs, RRSPs, RESPs and tax planning solve different problems. The goal is not to sell one product as the answer to everything. Each path below shows how the pieces connect for one event, and which guide to read for each piece.
Guides for this path, in reading order
Small business, GST and payroll Quick guide
7 GST rules small business owners get wrong about the $30,000 threshold
The threshold is $30,000 of taxable sales, not profit. Cross it in one calendar quarter and GST applies from the sale that took you over.
Small business, GST and payroll Quick guide
5 business expenses you should not assume are 100% deductible
Not every business cost comes off income in full. Meals and entertainment are generally limited to 50%.
Small business, GST and payroll Quick guide
7 vehicle records business owners should start keeping today
Keep a log of every business trip with the date, where you went, why, and the kilometres.
Small business, GST and payroll Quick guide
Uber, Lyft and food delivery: are the GST rules the same?
No. If you drive passengers for a rideshare app, you must register for GST the moment you start earning.
Creators and online income Quick guide
Does the CRA know what I earned online? Digital platform reporting explained
Increasingly, yes. Reporting rules have been in force since 2024.
Food and hospitality Quick guide
Starting a food business from a commissary kitchen? 7 tax and bookkeeping things to set up first
Open a separate business account and track each sales channel on its own. Keep every commissary and storage invoice.
TFSA, RRSP and RESP Quick guide
TFSA or RRSP? Stop asking which one is better
Neither is better in general. An RRSP contribution is deducted from income now and the withdrawal is taxed later.
Insurance Quick guide
Do you need life insurance if you already have a TFSA, RRSP and workplace coverage?
Maybe. Savings and insurance do different jobs. A TFSA or RRSP is an asset that takes years to build and is worth whatever is in it on the day.
What belongs with a lawyer: Business registration, contracts and licensing are legal and municipal matters.
Other life events
Want this worked through for your situation?
Call us or request a callback. We explain the tax side; insurance is arranged by Parminder Singh Oberoi through Punjab Insurance Agency Inc.; legal documents need a lawyer or notary.