Registering a business as well as renewal of a business is a process. Obviously, that is handled by the law. That is, with the involvement of the Govt. It is known in technical terminology as corporation renewal. Apart from this, the process is irrespective of the size of the corporation. The annual corporation renewal is the renewal process of a company that is already registered. However, it needs to be renewed. Ironically, the frequency of the renewals is annual, which means every year. For example, a company registered in the year 2007. Precisely, in the month of May needs to be renewed in Dec 2007. That is, just before the start of the New Year i.e. 2008. The process obviously is called annual corporation renewal. In addition to this, it applies to almost all companies. That is, irrespective of the size.
The size of the company doesn’t matters. Obviously, the law is a law under all circumstances. Thus, as well as the registration process remains the same. That is, for all the companies.
CHECKING THE AVAILABILITY OF THE NAME ONLINE:
Prior to moving ahead with the registration process. As a director of the company, you must select the name of the company. Obviously, that must be a unique name. You can go ahead with the process on your own. Otherwise, you can even take the services of an accountant. The accountant or you yourself can check the availability of the name. Ironically, that is whether the name is already taken by someone else. That is the owner of any other organization.
If the name is already taken then the website shall give a proposal for another name. Something, that is similar. However, is always unique obviously for the sake of online returns. Yes, we are precisely dealing with the tax returns and filing them accurately online. The name of the company should be unique. For example, you are planning to open a research company by the name of The Research Group. Hence, while you intend to start your own online business. An exactly similar name already exists. Precisely, due to this the company is unable to be registered online.
Thus, it’s your partner who gives the idea of another name which is Research Dimensions. The name is ideally suited and selected automatically by the online registration website. Apart from this, they send you a message on the website that the name is accepted. Ironically, which means you can move ahead with the rest of the registration process.
THE REGISTRATION PROCESS IN TORONTO:
The registration process for a company in Toronto needs a GST/HST number online. That is, by either fax. Otherwise, by e-mail or lastly by telephone. Any business that is making over $30K. Precisely, over the span of the full year has to register as a compulsion for a GST/HST number. Thus, later collect the affiliated sales tax while depending on the Province. If otherwise, your business is under $30K of revenue. You can still register for a GST/HST. However, it is not mandatory or a must.
As a GST/HST registrant, you will also have to complete. Apart from this, regularly file a GST/HST return. In addition to this, later remit your collected sales tax to the Government. While on the brighter side. You can usually claim back the GST/HST you’ve paid on a business purchase.
WHAT IS AN ANNUAL CORPORATION RENEWAL?
Every business corporation is liable under Canadian law. That is, to file its annual return with Corporations Canada every year. The filing of an annual return. Thus, avoids the potential dissolution of the corporation. Hence, a corporation key will eventually become mandatory to file an annual return for the business incorporated. That is, under the CBCA. The CBCA is an acronym for Canada Business Corporations Act. Thus, enacted by the Parliament of Canada.
THE RENEWAL OF CPSO CORPORATION:
As we have discussed earlier. It’s a must that you renew your Certificate of Authorisation annually. For CPSO Corporation renewal. The CPSO will send you a reminder via the Member Portal Message Center. Precisely, approx. six weeks prior to the renewal deadline. You are responsible for initiating the application. Furthermore, paying the $175 fee. The applications are unacceptable by e-mail or mail.
THE BROOKFIELD RENEWABLE CORPORATION:
The Brookfield Renewable Corporation is a Toronto-based company. Furthermore, the corporation for renewable in Brookfield is responsible. Importantly, for the annual renewals of the companies. That is, based in Toronto in Canada. The company was founded 12 years ago in 2011. Furthermore, since then is dealing in annual corporation renewal & Corporation renewal.
For the registration and renewal of your business in Toronto. As a company owner, you just need to perform the necessary duties. These are the duties, that are declared by the law. Hence, a mandatory set of duties. Companies or the owner of new companies must take into account the need for renewal. Hence, under guidance from companies like Brookfield Renewable Corporation.
The Corporation Renewal process is a smooth one. Desirably, if you have all the particulars in hand. Furthermore, you know well how to deal with the scene. It can be the biggest & most complex problem. Obviously, if you don’t understand the scenario or if you miss the deadlines & certain things that are regarded as a must.