HST, WSIB & Corporate Tax Compliance in the GTA

Stop Stressing Over CRA & WSIB Deadlines — Expert Tax & Compliance Services

Small business owners, corporations, and contractors face severe legal penalties and retroactive interest for missed filings. We securely manage your wsib and hst open accounts, track your premium calculations, and handle all structural submissions to keep your operations 100% risk-free.

Is This You?

Growing Employer

You are expanding your team and need to navigate strict WSIB (Workplace Safety and Insurance Board) requirements, manage mandatory employer premiums, and clear up the pros and cons of worker coverage without risking workplace liability.

HST-Registered Business

Your gross revenues have crossed or are approaching the $30,000 threshold, and you need to understand exactly why and when to file HST, collect input tax credits (ITCs), and avoid costly CRA interest charges.

Who Must Register From Day 1?

HST Mandatory Registration From Day 1 (No $30,000 Exception)

Per the Canada Revenue Agency (CRA), the typical $30,000 small supplier exemption does not apply to passenger transportation services.
Who it affects: All Taxi Operators, Limousine Drivers, and Commercial Rideshare Drivers (Uber / Lyft).
The Rule: You are legally required to open an active HST account and collect tax from your very first fare.

WSIB Mandatory Registration From Day 1 (Regardless of Employees)

Per the Workplace Safety and Insurance Board (WSIB) Ontario, expanded compulsory coverage eliminates exemptions for the construction sector to manage sector liability.
Who it affects: Sole Proprietors, Partners, Independent Operators, and Executive Officers working in Construction.
The Rule: You must register for an active WSIB account before or on the day you begin performing construction work, even if you do not hire employees or subcontractors. For all other non-construction industries, registration is mandatory within 10 calendar days of hiring your first worker.

What We Do For You

Open an Account

We set up your CRA Business Number, open your HST/GST program account, and register your business with the provincial board. Our streamlined system makes wsib and hst open accounts simple and completely stress-free

HST Calculation & Reconciliation

We systematically analyze your revenue stream, operational bookkeeping, and payroll metrics. Our team tracks your collected HST, calculates your optimization-friendly Input Tax Credits (ITCs) to retrieve refunds on your business expenses, and cross-references your gross payroll data with your specific WSIB industry classification risk code.

HST Compliance & Submition

We execute final audit-proof electronic filings on your behalf. We submit your annual T2 Corporate Income Tax returns, file your monthly/quarterly/annual HST schedules, and transmit your recurring WSIB premium balances. If the CRA or WSIB initiates a performance audit or a PIER review, we act as your direct corporate representative.

WSIB Registration

We handle your Workplace Safety and Insurance Board setup and reporting. We ensure your business is correctly classified, calculate accurate premium remittances based on your payroll, and prevent costly worker misclassification penalties.

WSIB Calculation & Reconciliation

We cross-reference your monthly source deduction payments (PD7A statements) against your year-end tax summaries to ensure your numbers balance perfectly, avoiding CRA red flags.

WSIB Submission and obtain Clearance Certificate

Should the CRA issue a payroll review, PIER (Pensionable and Insurable Earnings Review) report, or request a breakdown of your tax slips, we represent and manage the process for you.

Essential Guide to Canadian Business Compliance: HST & WSIB

Harmonized Sales Tax (HST) in Ontario: Why & When Do You Need It?

Why Do You Need HST? HST is a mandatory value-added tax collected on most goods and services in Ontario. Registering for HST allows you to legally operate above the small supplier threshold and—more importantly—allows your business to claim Input Tax Credits (ITCs). This means you can get a refund from the government for the HST you paid on your business expenses (like rent, inventory, and office utilities).
When Do You Need HST? You are legally required to register for an HST account as soon as your taxable sales, revenues, or supplies exceed $30,000 within a single calendar quarter or over four consecutive quarters. If your revenue is below $30,000, registration is optional (voluntary), but often recommended so you can claw back the taxes paid on your startup expenses.

Workplace Safety & Insurance Board (WSIB): Why & When Do You Need It?

Why Do You Need WSIB? WSIB provides workplace liability insurance for businesses in Ontario. It protects your business from being sued by employees if they sustain a work-related injury or illness. In exchange, it provides medical benefits and wage replacement to the injured worker.
When Do You Need WSIB? In Ontario, registry with WSIB is mandatory within 10 days of hiring your very first worker (which includes full-time, part-time, casual employees, and some contractors). Most businesses operating in the construction industry must register even if they don’t have employees (independent operators and sole proprietors).

The Pros and Cons of WSIB Coverage

Pros of WSIB

Cons of WSIB

Lawsuit Protection: Imparts complete legal immunity; employees cannot sue your business for workplace injuries.

Added Expense: Mandates recurring premium payments based on your industry risk classification and gross payroll.

Business Credibility: Many commercial clients, government contracts, and general contractors require a valid WSIB Clearance Certificate before you can step onto a job site.

Administrative Overhead: Requires regular reporting of payroll data, strict reporting deadlines, and ongoing compliance upkeep.

Peace of Mind: Ensures your workers are taken care of financially and medically if an accident happens, preventing company bankruptcy.

Audit Risks: Non-compliance, late filing, or misclassifying workers can trigger severe penalties and retroactive premium assessments during a WSIB audit.

What You Need to Bring Us

Financial Records & Bookkeeping

Cleaned trial balance, general ledger, and year-end financial statements.
Up-to-date bank statements and credit card reconciliations for the fiscal year.
Receipts and invoices for all major capital asset purchases (computers, vehicles, equipment).

HST & Sales Documentation

Summary of total gross sales broken down by province (if selling outside Ontario).
Total HST collected from your customers during the filing period.
Complete logs and receipts for all business expenses showing the HST paid (to calculate your ITCs).

Payroll & WSIB Details

Gross payroll summaries, active T4/T4A slips, and individual contractor invoices.
Your current WSIB account documentation and assigned NAICS industry code.
Total hours/earnings tracked for active construction sites.

Prior Tax & CRA Statements

Your corporation’s previous year’s T2 Corporate Tax Return and Notice of Assessment (NOA).
Access to your CRA “My Business Account” or your latest HST/PD7A statements.
Any previous audit notices or discrepancy letters received from the CRA or WSIB.

How Much Does It Cost?

Starts from $99.00

Description: For organized micro-businesses, freelancers, or single-shareholder corporations with pre-summarized financial categories ready for direct HST or basic T2 corporate tax return filing.

Looking for corporate or high-volume custom pricing? Please check our Pricing Page.

Description: Includes full-service corporate bookkeeping reconciliations, multi-tiered corporate tax filing, structured employee/subcontractor payroll tracking, WSIB reporting, and year-round compliance audit protection.

Trusted Corporate Tax, HST & WSIB Accounting Across the Greater Toronto Area

Navigating Canadian tax classifications, complex corporate structures, and overlapping WSIB regulations can be overwhelming. A single miscalculated payroll box or an unregistered operating date can trigger massive automated government penalties and severe asset risk.

At Common Accounting, we align your business infrastructure with exact CRA and provincial guidelines. From setting up mandatory wsib and hst open accounts to securing valid site clearance certificates, our professional accountants service Toronto, North York, Markham, Scarborough, and the wider GTA. Let us handle the regulatory mechanics while you focus entirely on scaling your business safely.