Starting a business, funding the kids' degrees, and bringing the generations together.
Sole proprietor to corporation: choosing your structureFederal incorporation protects your name Canada-wide, provincial is simpler and cheaper — and either one separates business liability from your family's assets.The $30,000 threshold and hiring your first employeeOnce your business passes $30,000 in revenue over four rolling quarters you must register for GST/HST — and hiring anyone means payroll accounts, CPP/EI remittances and provincial standards.
Funding university with the RESP you started years agoCanadian undergrad tuition runs several thousand dollars a year plus residence — the RESP's 20% federal grant (CESG) is the tool that makes it manageable if you've been contributing.
Parents' sponsorship or the super visa: the practical choiceThe Parents and Grandparents Program is a limited lottery with income tests, while the super visa is available year-round and lets parents stay up to five years per entry — many settled families run both tracks.
Making a multigenerational home work in CanadaMultigenerational households are one of Canada's fastest-growing living arrangements — and there's a federal tax credit for building a secondary suite for a parent or grandparent.