Starting Small Business Legally

Summary

In Québec, you can earn up to $8,000 in profit without registering your business, but you must report all income to Revenu Québec. If sales exceed $30,000, GST and QST registration is required. You can create social media pages for your business without registration, but tax obligations remain. For detailed guidelines, refer to Revenu Québec and the Government of Québecs business portal.

Full Conversation

I live in québec city and i want to start a small business that is selling dog toys. I don't want to pay the permit or be know as a real business. Is it true that i can make up to 8k in profit without the need to have a permit while being legal here?
Hi Katie! In Québec, you can earn up to $*,* in profit without needing to register your business. However, you must still comply with tax obligations by reporting any income to Revenu Québec.
Would you like more information on how to report your earnings?
Could you elaborate on the tax obligation?
Sure! Here are some key points regarding tax obligations for small businesses in Québec:
- Income Reporting: Even if you don't register your business, you must report all income to Revenu Québec.
- Sales Tax: If your sales exceed $*,* in a *-month period, you must register for GST (Goods and Services Tax) and QST (Québec Sales Tax).
- Deductions: You can deduct business expenses from your income, reducing taxable profit.
Would you like more details on any of these points?
Could i have a instagram or facebook page if i did not register my business?
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Yes, you can create an Instagram or Facebook page for your business even if you did not register your business. However, you must still comply with tax obligations and report your earnings to Revenu Québec.
could you give you source of info
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The information provided is based on the general rules and guidelines from Revenu Québec and the provincial government. Detailed information can be found on the official Revenu Québec website and the Government of Québec's business portal.
Would you like me to provide links to these sources?
yes
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Sure! Here are the links to the sources:
- [Revenu Québec](https://www.revenuquebec.ca/en/)
- [Government of Québec's business portal](https://www.entreprises.gouv.qc.ca/en/)
Feel free to explore these sites for more detailed information.