Checklist for small businesses

Effective October 21, 2024, if you need to register for or update an import-export (RM) program account, go to the Canada Border Services Agency's CARM: Assess and pay duties and taxes on imported commercial goods. To learn more, go to Getting or making changes to a nine-digit business number for importing and exporting.

This checklist is for people like you who are starting a business. Using the links below, you can get information about your fiscal obligations and their implications. You can also get information on interactions between your business and the Canada Revenue Agency (CRA).

For more information after consulting these links, go to Small businesses and self-employed income.

Before you start

For income tax purposes, the CRA defines a business as an activity where there is a reasonable expectation of profit and there is evidence to support that intention. For goods and services tax / harmonized sales tax (GST/HST) purposes, a business also includes any activity whether or not it is carried on for profit, and any regular or continuous activity that involves supplying property by way of lease, licence, or similar arrangement.

If you are starting a new small business, go to Setting up your business to make sure you do everything you need. This page includes information about your business' structure as well as registering your business for the first time.

Small business resources

About My Business Account: Information on dealing with the CRA from a secure online portal on various business accounts, including GST/HST, payroll, corporation income tax, excise tax, and excise duties.

Bringing assets into a business: Information about buying or expanding a business, including how to determine fair market value and the effects on GST/HST, and transferring assets.

Business audits: What you need to know if you've been selected for a business audit.

Business income tax reporting: Information on reporting your business earnings and paying income tax on those earnings.

Maintain your business: Information on what to do for common types of business changes, including how to make updates online, inform the CRA of changes, and other related actions you should take.

Reporting requirements and deadlines – File your GST/HST return: Information about filing your GST/HST returns.

Corporation income tax return: Information on corporation income tax returns and who needs to file them.

Digital services for businesses: This page makes it faster and easier to handle your business tax matters with the CRA's online services. You, your employee, or your representative can file your returns, make payments, determine entitlement to credits, register for direct deposit, and do much more.

How to register – Business number and CRA program accounts: This page explains the different ways to register for a business number or CRA program account.

Keeping records: Know what you need to keep, and for how long.

Liaison Officer service: The CRA offers a free Liaison Officer service to owners of small businesses and self-employed individuals to help them understand their tax obligations.

Payroll: Information and forms associated with amounts you withhold from the remuneration and other income amounts you pay, setting up a new employee, and determining payroll deductions.

Report business income and expenses: Information about Form T2125, Statement of Business or Professional Activities, industry codes, claiming capital cost allowance, eligible capital expenditures, and interest and penalties.

When you need a BN – Business number and CRA program accounts: Find out when you need a business number or CRA program accounts. Learn more about different program accounts like GST/HST (RT), payroll deductions (RP), corporation income tax (RC), and information returns (RZ).

For additional information

For more detailed information, including topics not covered in this checklist, go to Small businesses and self-employed income.

Forms and publications

Page details

2026-08-17