There might be a case wherein you want to record a transaction in Zoho Books for the previous GST/HST return but the GST/HST return for that period has already been filed. In this case, you can record the transaction for the previous date and file it with the current GST/HST return f...
GST/HST reporting in Business Central is based on theGST/HST Dateto include GST/HST entries on GST/HST reports in a GST/HST period. The GST/HST date can be changed on all documents and journals, but you must specify a default value for GST/HST date. ...
You can claim 50% of the actual GST/HST you pay on these expenses during each reporting period. By choosing this method, you do not have to make any adjustments at the end of your fiscal year. You can claim an ITC for the GST/HST you reimburse to your employees and partners for meal...
HST is a Combo Some provinces have chosen to participate in the HST, which pairs the GST with the PST to create one tax overall. These regions include New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland, Labrador, and Ontario. Therefore, if your small business resides in one of ...
However, you may choose a more frequent reporting period. There are detailed instructions for completing a GST/HST return on the Government of Canada’s website. In addition, businesses can complete remittance online via the Government of Canada’s website. Stripe Tax can make filing and ...
In 1991, the Canadian Federal Government intended to simplify the provincial GST system and promoted the idea of a single national GST called ‘harmonized sales tax (HST)’. A higher GST rate has been applied, in the participating provinces, which included the federal 5% GST and the provincial...
You do not need to provide the tax administration with the security deposit that is normally required from non-residents who register for GST/HST. Payments (remittances) are made on a quarterly basis, based on your calendar quarter reporting period. For businesses not using the simplified registra...
theymaynotbeaccuratelyidentifyingallrecoverabletaxortheymayhaveinsufficientdocumentationtorecoveralltaxpaid.PlanningcanbringtaxreliefFormany,areviewofoperationsandimplementationofaplanningstrategymayyieldsubstantialsavings—eitherimmediately,asITCclaimscanoffsetamountsowingwhenfilingGST/HSTreturns,orbywayofGST/HSTrefundsor...
The 90 day period begins from the effective date of disclosure, which is determined by the date of a written voluntary disclosure submission or the receipt of a VDP-1 Taxpayer Agreement Form as received by the CCRA tax services office. ...
Since the self-supply rules only apply to builders, it is important to note that the definition of a “builder” for GST/HST purposes differs substantially from the colloquial meaning of the term. In subsection 123(1) of the ETA, a builder is defined as a person who has an inter...