
You will often hear reference to your “Business Number” when dealing with government agencies, financial institutions and business-to-business transactions. A Business Number is a 9-digit business identifier used in Canada and is required to register with the Canada Revenue Agency (CRA) for the following accounts:
The most common Business Number accounts that businesses register for is the HST. Businesses are not required to register for HST until business revenues reach $30,000 for any four consecutive quarters (one year). Prior to registering you cannot charge, collect or remit the 13% HST to the CRA. Businesses may want to voluntarily register for a Business Number prior to reaching the $30,000 threshold under the following circumstances:
To register for a Federal Business Account Number visit the Canada Revenue Agency or contact a team member of The Business Enterprise Centre who will guide you through the process and answer any questions you might have.