Business Costs

To operate a business in the Province of Ontario with a name that is different than a personal legal name, it must be registered.  A Master Business License confirms that a business name has been submitted to the Ontario Ministry of Services, Companies, and Personal Property Security Branch for registration on the public record.  This license can be used as proof of registration for a business name at a financial institution and is required to set-up a business bank account.  A business can be registered as a sole proprietor, general or limited partnership, or under an existing corporation.  The fee for a Master Business License is $60 and must be renewed every five years.

In order to operate a business in Timmins, Ontario, certain businesses are required to secure a business license from the City of Timmins. Licenses cost $145 per year. The required approvals or inspections will vary depending on the sector the business operates in.

The City of Timmins Planning Department assists developers with zoning amendments as necessary and ensures conformity with the City of Timmins Official Plan. Development projects require the establishment of a site plan control agreement to ensure that development principles of the Official Plan are addressed at the site planning stage.

The City of Timmins charges building fees based on the construction value (CV) of a project. The table outlines building fees for developments within the city.

*CV = construction value
**This fee is not applicable and would be part of other planning procedure for larger developments
***New fees as reflected in the Ontario Building Code

Sources
City of Timmins. “2020-8488 – New User Fees.” City of Timmins Document Centre. April 13, 2023. Accessed June 14, 2023. https://timmins.civicweb.net/filepro/documents/76/?preview=97405.

The Province of Ontario has a combined corporate tax rate of 26.5% (Federal rate of 15%; Provincial Rate of 11.5%).

The Federal and Provincial tax structure is uniquely designed to nurture development across all industries. Ontario’s business tax system is amongst the most competitive internationally. Out of the 13 Canadian Provinces and Territories, Alberta is the only Province with a lower corporate tax rate than Ontario. Among G7 countries, Canada’s corporate tax rate is lower than Germany, Italy, France, and Japan.

The Province of Ontario uses a harmonized sales tax (HST) system that is a combination of the Federal Canadian goods and services tax (GST) and Provincial sales tax (PST) . HST is essentially a consumption tax paid at the point of sale by the consumer and business. The HST in Ontario is 13%.