Owner basics
Sole proprietorship or corporation? Start with the legal facts
Structure changes who owns the business, how income is reported, and which liabilities and filings exist. It is more than a tax-rate comparison.
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Clear financial guidance for B.C. business owners
Plain-language, reviewed explanations of bookkeeping and payroll concepts, available in English and Simplified Chinese.
Owner basics
Salary, dividend and owner draw are different records
Salary is employment remuneration, dividends arise from shares, and an owner draw belongs to an unincorporated business. Do not relabel a transfer after the fact.
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A BN, GST/HST account and payroll account are not the same thing
A nine-digit BN identifies the business; RT and RP program accounts add separate GST/HST and payroll obligations.
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More than one employer: update TD1 before year-end surprises
Each employer calculates from the information it has. Claiming the same personal credits twice can leave too little income tax withheld.
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Mid-year payroll migration: preserve year-to-date evidence
A new system must start from verified year-to-date earnings, deductions and employer records—not from zero.
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How to use NextAgent Finance Insights safely
Insights explains common bookkeeping and payroll concepts in plain language. It does not classify your business or replace advice based on your facts.
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