There are nearly three million people in Canada today who are self-employed with the majority of those serving as independent contractors. As most independent contractors are aware, being a contractor rather than an employee of a company can provide numerous financial, tax and work-life balance advantages that are tremendously appealing.
However, over the past few years the Canada Revenue Agency has introduced significant changes to the business criteria and classifications that directly impact independent contractors, exposing them to tremendous financial risk upon assessment.
Becoming PCSI Certified is important for the contractor moving forward from the day they join the partnership. We can not eliminate the risk of being classified as a “personal services business” for past actions, prior to joining the Partnership. It is in the contractor’s best interest to avoid a reclassification that can carry with it a tax reassessment of as much as $25,000 per year or greater.
The PCSI Solution
PCSI Solution Credibility
- Vetted over an 18-month period by former CRA auditors, legal, tax, accounting and HR experts
- Based on Case Law
- CRA Compliant
- Similar to the business model used by other professions IE legal firms
Advantages of Being PCSI Certified
Becoming PCSI Certified
While our partnership solution is relatively simple to work with, few independent contractors have ever had experience working in a partnership structure. Our experience tells us that the best way to explain our model and address your questions is to meet for a face-to-face discussion or at least speak over the phone. We will explain our model in as much detail as you need, answer all your questions and determine if our solution is a good fit for you. Once you choose to proceed we will walk you through the paperwork step by step.