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by wolco 2916 days ago
My advice as a full time employee who contracts.

Option 1: Don't get a gst number until you hit 30k. To remove a gst number is a lot harder than getting one.

Option 2: Incorporate and get your gst immediately. Advantage if you are buying materials.

Option 3: Get your gst and do not incorporate. Lowest tax rate/highest cost for taxes.

Knowing when your contract is to end should help you decide. In your case I would incoporate immediately if the contract is > 6 months.

1 comments

Hi wolco, the contract is 6 month. I am definitely thinking about incorporating immediately. But I am wondering what kind of expenses can I declare as a IT person? Can you elaborate on that?
Assume you work from home, you can deduct portion of your internet, electricity, gas bill and mortgage. If you work primarily from home and go into the office, you can deduct millage.

Best thing for you to talk to an accountant.

How is the company paying you? Are you going through an agency? If not, you might have to get an independent insurance.