WHAT IS WSIB:

The Workplace Safety and Insurance Board (WSIB) is an independent provincial agency which provides compensation and insurance for Ontario workplaces.

WHO NEEDS TO REGISTER WITH WSIB:

You need to register with WSIB if you are in/have following businesses:

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1. BE AN EMPLOYER: Canada Revenue Agency (CRA) generally consider you to be an employer if you pay salaries, wages, bonuses, tips or provide taxable benefit such as allowances to your employees.

2. REGISTER FOR PAYROLL ACCOUNT: If you pay salaries or wages; tips or grat...

If you are operating a business in Canada, you need to know about the Goods and Services Tax (GST) and the Harmonized Sales Tax (HST) and you MUST charge GST/HST unless your business qualifies as an exception. We summarized general basic rules of GST/HST that each busi...

If you are in process of starting your business, you need to know which organization structure meets your needs and aligns with your business goals and objectives. Generally, there are three types of business structures: Sole Proprietorship, Partnership and Corporation...

1. BUSINESS START-UP COST:  Business start-up cost is one of the deductible expenses that Canada Revenue Agency (CRA) allows.  In order to deduct all the business start-up costs, you had to have carried on a business in the fiscal period in which the expenses were incu...

If you planning to start-up your corporation, you need to know steps to follow it up. We summarized basic steps in order to start any corporations. However, type of business and location that you will operate might vary from the list provided below. 

1. Business Name: W...