![]() |
||||||||||||||||||
![]() |
|
|||||||||||||||||
Frequently Asked Questions -- Business structureWhat is the difference between a BN and a BIN? The Business Number (BN) is a 15-digit federal government number that identifies your business and it's various Canada Revenue Agency (CRA) accounts such as the GST/HST account. This number should be used when communicating with the CRA about accounts you have or wish to create. For example, if you would like to discuss your GST/HST account or you would like to create a payroll account, you should quote your existing BN. The Business Identification Number (BIN) is a 9-digit number used by the Ontario Ministry of Consumer and Business Services to identify a provincial business name registration. It appears on the Ontario Master Business Licence. What do I need to know if I am hiring a baby-sitter? You may be considered an employer if you hire a baby-sitter and you:
See Employee or Self-Employed if you are not sure if the person working for you is considered an employee. You can also find more information in Day care in your home. If you are the employer, you will be considered a sole proprietor and you will need a payroll account. Note What is the difference between a partnership and a joint venture? A joint venture is not considered a “person” for registration purposes, whereas a partnership is. Therefore, a partnership can have a BN; a joint venture cannot. A joint venture is limited in scope; a partnership is generally an ongoing business relationship that exists between persons carrying on common business. Need assistance?
|
||||||||||||||||||
|