I started a small business operating from my home, it is a homecare business providng cleaning and yardcare. I will have 3+ staff, how can I do it the easiest and cheapest, do I have to pay GST, income tax, UIC, comensations, etc.I was told I could avoid all that if I subcontract, how would that work? Any info greatly appreciated!
Answer:
Well subcontracting is good in a way, but the down side is that you can not tell the person when to work. Deadlines must be set.
and the bottom line is that if they don't complete the job, it will affect you and your business and plus loss of income. And plus they need to be a legimate company as you, so its an tax deductable on your part.
And yes register for GST. and plus to save you on year end personal taxes, its better for you to take an paycheck monthly and pay income tax and CPP.
and even discuss this matter with your accountant to see whats best for the company. and even your lawyer to draw up contracts for the you and your subcontractor. and they advise you on your rights and theres.
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