Ontario Business Startup Checklist 2026

42-Point Compliance Guide for Mississauga, GTA & Ontario Startups

★ Ex-KPMG CPA ★ 5-Star Google Reviews ★ Patent-Pending AI Governance

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Structure & Registration

0/8

Choose Business Structure

Sole prop, partnership, or corporation. Corp offers liability protection and tax advantages for income over 50K.

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Ontario Business Registry or incorporate. Search NUANS first. Registration valid 5 years.

Obtain Business Number (BN)

Mandatory if revenue exceeds 30K/year. Ontario HST 13%.

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Open Business Bank Account

Separate personal and business finances. Essential for bookkeeping and CRA compliance.

Set Up Corporate Records

Minute book, share certificates, resolutions. Required for corporations.

File Initial Return (Corps)

Within 60 days of incorporation. File online with Ontario government. fee.

Secure online presence. Domain /yr. Trademark via CIPO optional.

Licenses & Permits

0/5

Municipal Business License

Required in Toronto, Mississauga, Brampton. Fees -500/yr.

Health & Safety Permits

Food service, daycare, healthcare, gyms need health department inspections.

Building Permits

Renovations, signage, structural work. Check zoning before signing lease.

Professional Licenses

CPA, lawyer, doctor, engineer, realtor require provincial body registration.

Industry-Specific Permits

Liquor (AGCO), import/export (CBSA), transportation (MTO), cannabis (HC).

Accounting & Bookkeeping

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Choose Accounting Software

QuickBooks Online, Xero, Sage, Wave. Cloud-based recommended.

Services

Set Up Chart of Accounts

Organize revenue, expenses, assets, liabilities. Industry-specific templates available.

Implement Receipt Tracking

Dext, Hubdoc, Receipt Bank. CRA requires 6-year retention.

Choose Fiscal Year-End

Corporations choose any date. Dec 31 most common. Sole props must use calendar year.

Planning

Set Up Invoicing System

Professional invoices with HST breakdown. FreshBooks, Wave, QBO templates.

Hire Accountant/Bookkeeper

Prevents costly mistakes. Startup packages from /mo including bookkeeping and tax planning.

Services

Understand Tax Deadlines

Corporate T2: 6 months after year-end. Personal T1: April 30. GST/HST varies.

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Employees & Payroll

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CRA payroll account required before first employee. Get RP number.

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Workplace Safety Insurance Board. Mandatory for most businesses with employees.

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Employer Health Tax. Required if Ontario payroll exceeds /year. Rates 0.98-1.95%.

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Choose Payroll Software

Wagepoint, Rise, QBO Payroll, ADP. Must calculate CPP, EI, tax, WSIB, EHT. We offer payroll services.

Prepare Employment Contracts

Written agreements: role, salary, benefits, termination. Lawyer review recommended.

Collect Employee TD1 Forms

Federal and Ontario TD1 determine tax withholding. Collect before first pay.

Understand Employment Standards

Ontario ESA: min wage .20/hr (2026), overtime after 44 hrs, 2 weeks vacation, 9 stat holidays.

Overtime Vacation

Workplace Policies

Health & safety, harassment, remote work, expenses. Required by law for certain sizes.

Insurance & Risk

0/5

General Liability Insurance

Covers third-party injury, property damage. minimum. Required by landlords. -2000/yr.

Professional Liability (E&O)

Errors & omissions. Required for CPAs, consultants, IT, healthcare.

Commercial Property Insurance

Protects equipment, inventory, leasehold improvements. Often required by lease.

Cyber Liability Insurance

Data breach, ransomware, privacy violations. Essential if handling customer data.

Key Person Insurance

Life insurance on critical owners/employees. Protects business from financial impact of death/disability.

Operations & Setup

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Secure Office/Location

Lease commercial space or register home office. Consider zoning, parking, accessibility.

Set Up Phone/Internet

Business phone number, high-speed internet. VoIP or traditional Bell/Rogers.

Build Website

Professional web presence. WordPress, Shopify, Wix. SEO-optimized, mobile-responsive.

Set Up Business Email

Custom domain email. Google Workspace, Microsoft 365. Professional address.

Purchase Equipment

Computers, furniture, tools, POS. Track for CCA tax deductions.

Set Up Payment Processing

Square, Stripe, PayPal, Moneris. Accept credit cards, e-transfer.

Create Brand Assets

Logo, business cards, letterhead, signage. Professional design.

Join Industry Associations

Chamber of Commerce, BIA, trade associations. Networking, credibility.

Set Up CRM/Project Management

HubSpot, Salesforce, Asana, Monday. Track leads, clients, projects.

DISCLAIMER: This tool provides estimates for informational purposes only and does not constitute professional accounting, tax, or financial advice. Results may not reflect your specific situation. Tax laws and regulations change frequently. Always consult a qualified CPA before making financial decisions. Insight Accounting CPA Professional Corporation accepts no liability for decisions made based on these estimates. For personalized advice, call (905) 270-1873.

Bader A. Chowdry, CPA, CA, LPA

.7M+ in Tax Matters Resolved | 5-Star Google Reviews | Ex-KPMG Partner

Frequently Asked Questions

How long does it take to start a business in Ontario?

Incorporation can be done in 1-3 business days. Complete setup typically takes 4-8 weeks. Work with a Mississauga CPA to accelerate and ensure compliance.

What's the cheapest business structure in Ontario?

Sole proprietorship costs under to register. However, incorporation offers liability protection and tax advantages. GTA clients save -15K/year in taxes once revenue exceeds .

Do I need an accountant to start a business in Ontario?

Not legally required, but highly recommended. A Toronto or Mississauga CPA prevents costly mistakes. Startup packages start at /month including bookkeeping, tax planning, CRA compliance.

What tax registrations are required for new Ontario businesses?

Business Number (BN) from CRA is mandatory. GST/HST registration required if revenue exceeds ,000. Payroll account needed before hiring. Use our GST/HST calculator.

Can I run a business from home in Mississauga?

Yes, with conditions. Mississauga allows home-based businesses for most services. Check zoning, condo rules. Claim home office deductions. Contact a Mississauga CPA for compliant setup.

Ready to Launch Your Ontario Business?

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