![]() ![]() In some cases, businesses may be able to communicate with the CRA using just the social insurance number of their principal owner. Excise Duty (applies to businesses that export wine, beer, spirits, and tobacco products that are made in Canada).Payroll deductions (if you have employees).GST/HST (required if your business does not meet the Small Supplier definition).Conversely, even if you don’t own a business, you may still need a BN.Ī business needs a BN to register for one or more of the following government program accounts: It is based on the idea of one business, one number.” Put simply, it’s a unique, nine-digit number that the CRA assigns to your business as a tax ID.īNs may be used by corporations, sole proprietors, and partnerships, however, they don’t always need them. ![]() But what is a Business Number? We talked to Knit People’s Senior Accounting Associate Guriqbal ‘Guri’ Singh to find out.Īccording to the CRA, a BN is a “Numbering system used by the Canada Revenue Agency that simplifies and streamlines the way businesses deal with the federal government. However, you might have noticed that you need a Business Number (BN) to get started. So you’ve started a business and you’re setting up payroll for your first employee-congrats! You may want to check out our complete guide on setting up payroll while you're at it. Whether you’re doing payroll for the first time or you’re a seasoned veteran, we’re here to make sure you never have to worry about something going over your head. Welcome to Ask An Accountant, where we take your payroll and accounting queries and help you make sense of them. ![]()
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