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How do I start my renovation business?

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Posted by: from Etobicoke
11/20/2020 at 9:25:09 AM

My question is how do I start my renovation home business? Do I need a license for this? Because I just want to do a small kind of things like painting the apartment or house or change the flooring, so how can I register that type of work?

REPLIES (3)
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Date/Time11/20/2020 at 10:20:35 AM

It is important to make sure u have all your government paperwork in order. Contractors are great targets for the cra. I have been doing this for many years running large companies as a cfo and operations manager.

I have spent countless hours many sure the cra is properly done to avoid large fines and penalties. It can be an expensive lesson. Make sure your wsib is always up to date.

Then I recommend finding a good contractor to sub for that will keep you busy and most importantly pay you on time.

Once you have all that you should be good to go.

Feel free to reach out for any more advice.

John

Gardco Reno and design

905 407 9244

Good luck with your new venture

John Gardner

Project Manager

Gardco Reno & Design

905 407 9244

[email protected]

www.gardco.ca

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Date/Time11/20/2020 at 1:02:47 PM

Jayesh, I'd suggest contacting the local city office (or municipal office) and ask them because the requirements vary across the country. You will need a business license from wherever you plan to work. Then look into WCB and insurance. You may register as an independent contractor. If you start making reasonable money, you will also require a GST number, but don't rush that one until you make over $30,000. Just follow the rules and and you'll be fine. Do a good job!

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Date/Time11/20/2020 at 8:58:57 PM

Check with your local municipality and the regulations in your province. You definitely want to have workers compensation coverage and any kind of liability insurance. You definitely want to register with the CRA if you're going to be doing over $30,000 worth of work a year. If so you'll want to be charging appropriate taxes such as get. If you do that improperly you could end up with a large bill from the canadian government. Belive it or not anyone can become a contractor with just a simple business license from your municipality. Should anyone be able too though? Well that is a whole other conversation. Best of luck!

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