A Canadian Business Number (BN) is a unique nine-digit number assigned by the Canada Revenue Agency (CRA) to businesses and individuals who are required to collect and remit the Goods and Services Tax (GST) or Harmonized Sales Tax (HST). It is also used to identify businesses for tax purposes and to track their GST/HST payments.
Getting a BN is essential for businesses that meet certain criteria, such as having an annual revenue of $30,000 or more, or being required to collect GST/HST. Obtaining a BN allows businesses to register for GST/HST, file their returns, and make payments to the CRA. Additionally, having a BN can enhance a business’s credibility and make it easier to open business accounts or obtain financing.