Business Incorporation & Accounting Setup
Alberta and federal incorporation handled alongside the accounting setup your new corporation needs to stay compliant from its first day.
Incorporating creates a separate legal entity that owns the business, signs the contracts, and carries the liability. For most Calgary owners the practical benefits are limited personal liability and access to the small business deduction, which lets a Canadian-controlled private corporation retain earnings at a much lower rate than personal income tax. Profit left inside the corporation is taxed once at the corporate rate, and personal tax is only paid when you take money out as salary or dividends.
The mechanics matter more than people expect. Alberta incorporation requires a NUANS name report unless you take a numbered company, articles of incorporation, a registered office address in the province, and a director who meets the residency requirements. Share structure is set at this point, and getting it wrong is expensive to fix later. If a spouse may eventually hold shares, or if you want the flexibility to pay different dividend amounts to different shareholders, that has to be built into the share classes at incorporation.
We do not stop at the registry filing. Once the corporation exists it needs a business number, corporate bank account, GST and payroll accounts where applicable, a fiscal year end chosen deliberately rather than by default, a minute book, and an accounting system with an opening balance sheet. We handle all of it so your first T2 has a clean set of records behind it.
What's Included
- Alberta or federal incorporation including NUANS name search and articles of incorporation
- Share structure advice covering multiple classes and future shareholders
- CRA business number, GST, and payroll account registration
- Fiscal year end selection and opening balance sheet preparation
- Minute book setup and cloud accounting configuration for the new corporation
FAQ
Should I incorporate provincially in Alberta or federally?
Alberta incorporation is simpler and cheaper if you operate mainly within the province. Federal incorporation gives stronger name protection across Canada and is worth it if you plan to operate in multiple provinces, though you still have to register extra-provincially wherever you carry on business.
At what income level does incorporating start to pay off?
There is no fixed threshold, but the tax advantage depends on leaving profit in the corporation. If you draw everything out to live on, the tax saving is usually small, and any non-tax reasons for incorporating, such as how liability is structured, are worth reviewing with your lawyer. Once you consistently earn more than you need personally, the deferral becomes meaningful.
What ongoing obligations does a corporation have?
An annual return to the corporate registry to keep the company in good standing, a T2 corporate tax return each year regardless of activity, GST and payroll filings if registered, and a maintained minute book recording director and shareholder resolutions. We handle the accounting and tax filings and remind you of the registry deadline.
Need help with Business Incorporation & Accounting Setup?
Tell A4SB about your accounting needs and we can discuss the support that may be relevant to your situation.