Alberta Taxes for Sole Proprietorships
Payment of taxes on business income. A sole proprietor pays taxes by reporting income (or loss) on a T1 income tax and benefit return. If you are a sole proprietor, you or your authorized representative have to file a T1 return if you:
- have to pay tax for the year
- disposed of a capital property or had a taxable capital gain in the year
- have to make Canada Pension Plan/Quebec Pension Plan (CPP/QPP) payments on self-employed earnings or pensionable earnings for the year
- want to access employment insurance (EI) special benefits for self-employed persons
- received a demand from us to file a return
You also need to file a return if you are claiming an income tax refund, a refundable tax credit, a GST/HST credit, or the Canada Child Benefit. You should also file a return if you are entitled to receive provincial tax credits.
Registration for GST/HST
As a sole proprietor, you may be required to register for the goods and services tax/harmonized sales tax (GST/HST) if you provide taxable supplies in Canada.
Payroll and Bookkeeping
Full service bookkeeping, including payroll, GST, and year end. We specialize in small to medium sized businesses. We offer virtual bookkeeping and payroll services to Canadian companies looking to get the many benefits of cloud accounting. Let us manage your payroll payments and government payroll remittances. We can: Setup your staff or contractors in the payroll system, Make sure everyone gets paid the right amount on time each month, Manage salaried and hourly workers, Do holiday pay calculations, Do your government remittance reporting, Manage your compliance obligations, Reconcile your payroll
GST / HST Preparation
As a sole proprietor, you may be required to register for the goods and services tax/harmonized sales tax (GST/HST) if you provide taxable supplies in Canada.
Accounting Services
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Unfiled Taxes or Back Taxes
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