Ten public resources for the self-employed: financing, insurance, taxation and retirement savings, with CompareTaux among them. The list is alphabetical, with no ranking, and contains no rates.
How to use this list
With no employer, building your protection is up to you. There is no automatic group plan, no payroll service withholding contributions, no human resources department to answer questions. That freedom has a price: you need to know where to find neutral information, and to find it before you need it.
This list gathers ten reliable starting points. Read it by need rather than front to back. A plan to buy or refinance will lead you to the bodies that explain credit and housing. A worry about protecting your income in case of illness or death will lead you to those that explain insurance. A question about filing or contributions will lead you to the tax administrations and the pension plan.
These resources give general guidance, not advice tailored to your file. Rules and programs change: check the date of the information, then confirm it with an authorized person, registered with the Autorité des marchés financiers (AMF), before deciding.
Disclosure: CompareTaux publishes this article
CompareTaux publishes this page and appears in the list. So that this does not skew anything, the ten entries are in alphabetical order, with no ranking and no score: a resource’s position means nothing beyond the order of the letters.
CompareTaux is not a public body. It is a service that routes a mortgage, insurance or investment request to an authorized person. It shows no rates, does not choose a product for you and makes no automatic decision.
The other nine entries are public bodies, associations or non-profit organizations. You can check each one on its own website, and we encourage you to: important information is always worth confirming at the source. If a description no longer matches what a site says, let us know so we can correct it.
Autorité des marchés financiers (AMF)
Quebec’s financial sector regulator. Its public register lets you check, free of charge, that a person or firm is authorized to offer insurance, mortgage brokerage or investment products. Its website also publishes information for consumers.
When to use it: whenever someone offers you a financial product, and before you share personal information or sign. Self-employment brings plenty of solicitations, including from people who promise to simplify your protection: the check is simple and free.
The AMF also explains the options available in a dispute with a representative or a firm it oversees.
Practical tip: ask for the full name and licence number, then look the person up in the register before the meeting. Also check the practice category: someone authorized for one type of product is not necessarily authorized for another.
Canada Mortgage and Housing Corporation (CMHC)
The federal housing agency. It publishes buying guides, explains mortgage loan insurance and releases housing market data. Its documents help you understand the steps of a purchase, from budget to closing at the notary’s office.
When to use it: when a purchase is coming up, or when a lender mentions mortgage loan insurance and you want to know what it is for. That insurance protects the lender, not the borrower, which often comes as a surprise. The site also covers housing assistance programs, whose conditions change.
For a self-employed person, CMHC is useful for preparing: knowing which steps await a buyer lets you gather in time the documents lenders generally ask of people with no pay stubs.
Practical tip: read the buying guide like a checklist and note what depends on the nature of your income. Then ask an authorized person to validate those points.
Canada Revenue Agency (CRA)
The official source of federal tax rules, including those for the TFSA, the RRSP and the FHSA. For a self-employed person it is also the reference for reporting business income, eligible expenses, instalments and sales tax obligations where they apply.
When to use it: when you start your activity, to understand what records you must keep, and every year when you file. Your notice of assessment is also a document lenders often request to establish your income.
The CRA lets you check your contribution room before saving: contributing without knowing your limit can lead to penalties.
Practical tip: keep your supporting documents and, as far as possible, separate your personal and business accounts. A well-kept tax file makes a loan application easier, as it does a review. For a question about how your business is structured, consult an accountant or a tax specialist.
Canadian Life and Health Insurance Association
An industry association that publishes glossaries and general explanations of life, health and disability insurance. It is an industry information source: it explains products but sells nothing and does not provide individualized comparisons.
When to use it: when you realize you have no group coverage and want to understand the types of insurance that exist, for example life, disability or critical illness insurance. The glossaries help you decode the vocabulary of proposals.
Keep in mind that the information comes from an industry association: complement it with independent sources such as the AMF or the consumer agency, and with the guidance of an authorized person.
Practical tip: before asking for a proposal, write down what would happen to your income if you had to stop working for several months. That will help you name the need, then recognize the coverage that answers it.
CompareTaux
CompareTaux routes a mortgage, insurance or investment request to an authorized person. The service works in French and in English and saves you from contacting several people to explain a situation that does not fit a standard form.
What CompareTaux does: collect the information you choose to provide, with your consent, then direct your request to a registered person who can review it. What it does not do: display rates, choose a product for you, make an automatic decision or guarantee an outcome. Analysing your file is the authorized person’s job.
When to use it: once you have done your reading and want to talk to someone who knows how lenders and insurers usually assess self-employed income.
Practical tip: describe your income structure clearly (corporation, sole proprietorship, variable contracts) and have your latest notices of assessment ready before filling in the request.
Éducaloi
A non-profit that explains Quebec law in plain language. Self-employed people sign many documents without a legal department: client contracts, commercial leases, guarantees, loan contracts, protection mandates.
When to use it: before signing a contract whose consequences you do not fully grasp, and when you want to understand a legal notion such as liability, warranty or naming a beneficiary. The fact sheets are written for non-lawyers.
Éducaloi does not offer individual consultations and does not replace a notary or a lawyer. It helps you understand the vocabulary and main rules so you can ask a professional sharper questions.
Practical tip: spot the clauses in your contracts that affect your personal liability, such as a guarantee, and look them up on the site before signing. For a property purchase or drafting a mandate, the Chambre des notaires du Québec is the natural complement.
Financial Consumer Agency of Canada
A federal agency that publishes neutral information on mortgages, credit and bank accounts. It explains basic notions (term, amortization, fees, how credit works) and offers tools to better understand what you sign.
When to use it: before meeting a lender, especially if your income varies. Self-employment often complicates the conversation, because the lender must rely on more documents. Knowing in advance how a loan application works spares you from starting from zero.
The agency also helps you understand your rights with federally regulated financial institutions, for example on fees and complaints.
Practical tip: find the list of questions to ask a lender in its guides and add your own concerns, such as how your business income will be calculated. Bring this list to every appointment so you ask everyone the same questions.
Option consommateurs
A consumer association that offers individual help, publishes studies and advocates for consumer rights. It pays particular attention to debt, credit, insurance and financial services.
When to use it: if you struggle to manage personal or business debts, if an insurance or credit contract is causing a problem, or if you want an independent reading of a complex subject. Its publications are written for the general public and deal with concrete situations.
The organization can point you to the right remedies, but its services have limits and access conditions. Check its website to see what is offered and how to reach it.
Practical tip: before calling, gather your documents and sum up in two sentences what you are looking for. Its insurance publications help you understand what you are buying when you subscribe alone, without the filter of a group plan.
Retraite Québec
The body that administers the Quebec Pension Plan and publishes information on retirement planning. Self-employed people contribute under rules that differ from those for employees, since there is no employer to share the contribution.
When to use it: to understand your contributions to the public plan, estimate what you can expect from it and gauge the gap to be filled by personal savings. With no employer pension plan, the savings you build yourself carry more weight overall.
The site offers estimation tools and explanations of benefits. Amounts and conditions evolve, so always rely on the current version.
Practical tip: check your contribution statement once a year and make sure your business income is reflected in it. An authorized person can then place the public plan within your savings plan, taking into account that your income varies from year to year.
Revenu Québec
The provincial tax administration. It applies Quebec income tax, sales tax, tax credits and several measures tied to housing and savings. For a self-employed person it is also the contact for instalments, business-related filings and certain contribution schemes specific to Quebec.
When to use it: when you start your activity, to understand what must be reported, and every year at filing time. In Quebec you file a federal return and a provincial return.
Practical tip: create your online account and turn on electronic notices so you miss no deadline. Keep your supporting documents, as the administration may ask for a review. If a doubt remains about a credit or an obligation, ask Revenu Québec directly rather than relying on a rumour or a colleague’s tip.
How to combine these resources
No single resource answers everything. A simple approach works in three stages.
First, understand: read the general guides from the consumer agency, CMHC and the insurance industry association to become familiar with the words and products. Second, verify: confirm in the AMF register that the person speaking to you is authorized in the right category, and consult the tax administrations for anything touching your returns. Third, decide with someone: speak to an authorized person who can apply the rules to your file.
A few habits help a great deal:
- keep an up-to-date file of your notices of assessment, contracts and statements;
- separate your personal and business finances;
- note the date you consulted each page, since rules change;
- ask every contact the same questions so you can compare complete offers.
With variable income, also plan your decisions in a calm period rather than in an emergency.
Questions to ask an authorized person
When you speak with an authorized person, bring written questions. Here is a base to adapt to your self-employed situation.
- Can you give me your full name and licence number so I can check them in the register?
- How are you paid, and by whom?
- How do the lenders or insurers you consult assess self-employed or variable income?
- Which documents should I prepare, and how many years of returns do you need?
- What happens if my income drops during the term of the contract?
- What protections would a group plan give me that I lack, and how can I replace them?
- Can you give me these answers in writing?
A serious person will welcome these questions. They can apply the rules to your situation, which this list cannot do. Meeting more than one person before committing is a right: comparing complete terms is not impolite.
Frequently asked questions
Do I have access to group insurance?
Not automatically. Some professional associations offer it, but terms vary: read them carefully and compare them with individual insurance. An authorized person can explain the differences in protection, cost and duration.
Do lenders treat self-employed income differently?
Often yes. They generally ask for more documents and look at income over several years. Ask for the exact list before applying, then prepare it in advance. An authorized person knows which lenders handle this kind of file well.
Should I plan my own income protection?
Without an employer there is no group plan by default. It is worth asking yourself what would happen to your income in case of illness or accident, then talking to an authorized person who can present the types of protection that exist.
How do I know whether someone offering me a product is authorized?
Ask for their full name and licence number, then look them up in the AMF’s public register or that of the body that oversees them. The check is free and quick. If the person is not listed, or refuses to answer, do not go further.
Why is CompareTaux in the list?
CompareTaux publishes this page and says so. It appears for what it does: routing a request to an authorized person. It shows no rates and makes no automatic decision. The alphabetical order of the entries means there is no ranking.
Sources
No rate, price, or recommendation on this page. Amounts and limits change: verify them with official sources before deciding.