If you’re starting a business in Canada, one of the first things you’ll need to do is get a business tax ID number. This number, also known as a Business Number (BN), is a unique identifier assigned to your business by the Canada Revenue Agency (CRA). In this blog post, we’ll cover everything you need to know about getting a business tax ID number in Canada.
What is a Business Tax ID Number?
A Business Number (BN) is a unique, nine-digit identifier assigned to your business by the CRA. It is used to identify your business when dealing with federal, provincial, and municipal governments in Canada. Your BN is also used to register for other CRA programs, such as GST/HST, payroll, and import/export accounts.
Who Needs a Business Tax ID Number?
If you’re operating a business in Canada, you’ll need to register for a BN. This includes sole proprietors, partnerships, corporations, and other types of businesses. Even if you’re not required to register for GST/HST or payroll accounts, you’ll still need a BN to deal with the CRA.
How to Get a Business Tax ID Number in Canada
There are a few ways to get a business tax ID number in Canada:
- Online: You can apply for a BN online through the CRA’s Business Registration Online (BRO) service. This is the quickest and easiest way to get a BN, and you’ll receive it immediately after completing the application.
- By Phone: You can also apply for a BN by phone by calling the CRA’s Business Enquiries line at 1-800-959-5525. This method may take longer than applying online, as you’ll need to wait for the CRA to mail your BN to you.
- By Mail: You can also apply for a BN by mail by completing Form RC1, Request for a Business Number (BN). You’ll need to mail the completed form to your local tax services office, and it may take several weeks to receive your BN.
What Information Do You Need to Provide to Get a Business Tax ID Number?
To apply for a BN, you’ll need to provide the following information:
- Your business name and contact information
- Your business structure (e.g. sole proprietorship, partnership, corporation)
- Your business activity (e.g. retail, consulting, manufacturing)
- Your anticipated annual revenue
- Your anticipated start date
- Your Social Insurance Number (SIN) or Business Number (BN) if you’ve registered a business before
Conclusion
Getting a business tax ID number in Canada is a crucial step in starting and operating your business. By following the steps outlined in this blog post, you can ensure that you have the necessary identification to deal with the CRA and other government agencies. If you need assistance with registering for a BN or any other aspect of business taxation, it’s always a good idea to consult with a qualified accountant or tax professional.