Understand Canada’s banking and financial environment and make financial decisions that are right for you.
Businesses may want to register for the simplified GST/HST because it makes it easier to report and remit the GST/HST collected. Here are a few benefits to the simplified registration process: You do not need to provide the tax administration with the security deposit that is normally required...
It’s also entirely possible that in addition to those back taxes that you’ll owe, the CRA could charge you thousands of dollars in penalties and interest for not paying taxes when you should have. In other words – the stakes here are quite high!