Yes, if you are a professional planner in Ontario, you are required to register a professional corporation if you wish to practice planning as a corporation. This is because planners in Ontario are regulated by the Professional Planners Institute of Ontario (PPIO), which requires that all planners who practice as corporations register as professional corporations with the PPIO.
To register a professional corporation as a planner in Ontario, you will need to follow these steps:
- Incorporate Your Corporation: Incorporate your corporation under the Ontario Business Corporations Act (OBCA) or the Canada Business Corporations Act (CBCA).
- Obtain a Certificate of Authorization: Apply for a Certificate of Authorization from the PPIO. You will need to provide proof that your corporation is in good standing with the relevant corporate regulatory body, as well as proof of professional liability insurance.
- Pay Fees: You will need to pay fees to the PPIO for the issuance of the Certificate of Authorization.
- Register for HST: If your corporation earns more than $30,000 per year, you will need to register for the Harmonized Sales Tax (HST) with the Canada Revenue Agency.
- Obtain Business Licenses and Permits: Depending on your location and the nature of your planning practice, you may need to obtain additional business licenses and permits from municipal or provincial authorities.
It’s important to seek the advice of a lawyer or accountant who is familiar with Ontario corporate and professional planning regulations to ensure that you comply with all legal requirements and regulations.
