Here is a step-by-step guide on how to file your GST/HST return in Canada.1. Registration: Begin by checking if your business needs to register for the GST HST program by visiting the CRA's website or consulting with your accountant. Typically, you need to register if your business's...
Some provinces require you to collectseparate provincial taxeson top of the federal GST/HST. How to file and remit indirect taxes Before you collect any taxes from your customers, ensure you are appropriately registered with the tax authorities in the area. In the US, businesses mustregister for...
Some provinces require you to collectseparate provincial taxeson top of the federal GST/HST. How to file and remit indirect taxes Before you collect any taxes from your customers, ensure you are appropriately registered with the tax authorities in the area. In the US, businesses mustregister for...
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 these areas, you ...
Let’s review Canadian tax brackets, preparation tips, and steps you’ll need to take to file your 2022 income taxes in 2023. Back: Common Small Business Tax Credits Next: A Guide to Sales Tax (GST/HST/PST)2022 Provincial and Federal Tax Brackets for Small Businesses Understanding different...
Hurdlr can track income and expenses, not to mention give you tax deduction information on the fly. The Hurdlr is custom-made to support small businesses and entrepreneurs to help save money. The Hurdlr API helps track federal taxes, GST/HST, state and provincial taxes, local taxes in over...
each province for the reporting period on line 1,401 of your GST/HST Netfile return. This is the total amount of the specific ITCs the government has indicated must be paid back by businesses. Review the government's tax bulletin on the subject to get details on what must be paid back....
GST/HST audits are focused on the Goods and Services Tax/Harmonized Sales Tax (GST/HST) reporting and payments. The CRA will review your sales and purchase records to make sure you've remitted the right amount. You may be asked to provide invoices, receipts, and other supporting documents ...
The GST/HST you collect isremitted to the CRAby completing a GST/HST return identified with your GST number either quarterly or annually. Note that the CRA refers to this number as a business number or BN. When you are completing your GST/HST return, you can claiminput tax creditsfor the...
One reason the CRA may contact you is if it is reviewing your income tax and benefit return. This could include reviewing your GST/HST, T4 or T5 information. You may receive a letter or a phone call telling you that theCRA is reviewingyour return. If you’re registered for email notific...