Ask Allan Forum
Get expert answers to your tax questions straight from Allan, our owner and experienced CPA. It’s free, direct, and designed to help you make the best decisions when it comes to your taxes.
Hello,
I incorporated in May 2018 but continued to operate as a sole-proprietor up until March of 2019 (in other words, I did not set up new GST/HST account, new bank account under the corp name, payroll etc until March of 2019). I was planning on filing T1/T2125 and GST/HST return for 2018 as a sole proprietor since business did not operate as a corp. Than, for the period of March 2019 - Feb 2020 I'll file corp tax return when the time comes. Am I correct in this approach?
Thanks so much.
Yes, this is the correct approach because you continued to operate as a sole proprietor until March 2019.