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by PakG1 2994 days ago
I'm thinking of something similar. Very curious if you would provide updates on your final decision. I understand the basic advantages of incorporating (lower tax rate and limited personal liability if things go poorly). Curious what the advantages of going sole proprietorship would be if the costs of doing incorporation are this low.
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AFAIK Canada does not have U.S.-style LLCs with pass-through taxation. This means you're most likely to be taxed twice: corporate tax on your corporation's profits, and income tax on your salary and/or dividends.

The sum of these two taxes might or might not be lower than income tax on a sole proprietorship depending on your level of income and how you categorize your expenses. Usually, the more money you make, the cheaper it is to incorporate.