To collect taxes, a small business has to create a GST/HST account with the CRA. However, there is a difference between a small supplier and one that needs to register for a tax account. A small supplier is a partnership, corporation, or sole proprietorship that has made less than $30,...
Using the HST Quick Method Calculator If your business makes less than $400,000 annually in taxable supplies, you can opt to use the quick method calculator for figuring your net tax for HST or GST. When using this calculation, you only need to know how much tax you collected over a ...
For businesses making sales in Canada, there is goods and services tax (GST) to collect and remit. Here’s a guide on collecting GST in Canada, including how to register for an account, how to calculate and collect GST, and what to do when it’s time to file and remit. What’s ...
000 in a single calendar quarter or over the past four consecutive calendar quarters, you must register for the goods and services tax (GST) and harmonized sales tax (HST). The same registration threshold applies to nonresidents selling digital services to Canadian consumers....
In your podcast you mention the HST tax, duty fees to import into Canada, customs fees, currency conversion fees, the difference in currency exchange rates and the higher cost of shipping. Is there a ballpark percentage that can be used to add to the current US price to get close to what...
1. I used HST Quick Method, so I claimed the “rebate”/ extra income on GIFI as Other revenue 8230, and the payable HST as Liabilities on Schd 1 under Taxes payable 2680. Do I need to enter anything else for HST? 2. I claimed meals/gifts that qualify for 50% deductible. Per thi...
In simple terms, the only way to lose body fat is to use more calories than you consume. This is what the basis of losing fat while preserving muscle will revolve around. To begin with, calculate your total calories burned. Once that is calculated, subtract 1000 calories from the total. ...