As a business owner, you may have the responsibility to collect and remit these taxes to the Canada Revenue Agency (CRA). 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 ...
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...
Some provinces require you to collect separate provincial taxes on 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 must register...
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...
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 that you are appropriately registered with the tax authorities in the area. In the US, businesses mustregiste...
More recently, the GST and PST have been combined in some provinces into a single tax known as theHarmonized Sales Tax(HST). Prince Edward Island was the first to adopt the HST in 2013, combining its federal and provincial sales taxes into a single tax.6Since then, several other provinces...
If your business is in Quebec, you need to contactRevenu Quebec, as they deal with GST/HST in that province. How to Charge and Collect GST/HST Once your GST/HST registration is complete and you have your GST number, you charge your customers GST/HST on the taxable goods and services yo...
GST/HST Audit 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 suppo...
Canadian businesses need to start collecting goods and services tax (GST) and harmonized sales tax (HST) after reaching $30,000 in revenue within 12 months. You can submit these collected taxes in installments. Selling to international customers can be simpler than domestic tax, but rule...