I am fairly sure this has been answered elsewhere, yet I failed to find a cons ice answer.

If I understand correctly, the only mandatory contribution for a sole proprietor is AVS, all other expenses being at the discretion of business decisions.

How about basic health insurance? I have read this is compulsory. Must I also add this to my expenses worksheet for the year?

Any other hidden month-to-months cost that comes to mind? (excepted taxes, which are not considered here)

Basic health insurance can not be added to expenses.

Hi, thanks for answering - let me rephrase:

Do I have to also pay for basic health cover, in addition to paying AVS?

Yes Karen, you'll also need accident cover.