What is HST?

By |2021-11-20T02:53:35+00:00November 20th, 2021|Business, Taxes|

As a business owner, you are likely familiar with GST, but what about HST? And is it something you need to worry about? The answer to this question depends on where you are doing business and whether or not you ship products to other provinces. The most common place you see a reference to HST is on the form you need to file with the Canada Revenue Agency (CRA) reporting your GST for the period. The same form is used to report HST and the official name of the form is the “Goods and Services Tax/Harmonized Sales Tax (GST/HST) Return.” Each [...]

All You Need to Know About the GST Quick Method

By |2021-05-12T23:18:12+00:00May 12th, 2021|Accounting, Business, Taxes|

Have you heard of the GST Quick Method? It’s a faster way to calculate the amount of GST or HST you owe the Canada Revenue Agency (CRA). Of course, it comes with a catch—a few, actually. You can only use this method to calculate your GST owing if you meet the CRA’s criteria. Read on to learn more about the GST Quick Method and if it’s right for you and your business. What is the GST Quick Method? The CRA implemented the quick method of accounting for GST/HST to help small businesses reduce paperwork. Rather than having to report every dollar [...]

Comments Off on All You Need to Know About the GST Quick Method

Your Guide to Sales Taxes in Canada

By |2021-10-24T09:53:16+00:00June 14th, 2020|Accounting, Business, Taxes|

When you first start your business, you have no way of knowing the things you don't know. So it makes it easy to miss things. One thing that is commonly missed (or done incorrectly) by new business owners is sales taxes. Either business owners don't realize they should be charging sales tax, or they aren’t doing it correctly. If this is you, don’t worry! There are volumes and volumes of information written by federal and provincial governments about our sales taxes in Canada. They can get extremely complicated, and we recommend you consult with a professional who understands your business and [...]

Comments Off on Your Guide to Sales Taxes in Canada

Do I charge GST / HST on my remote services?

By |2021-10-24T09:53:16+00:00March 8th, 2019|Accounting|

We work with a lot of consultants and the question often comes up “Do I need to charge GST / HST on my consulting services that I perform for clients in another country (usually the USA)?” The simple answer is no! In Canada, the Canada Revenue Agency deems the place of supply for services to be the location that your client is based even if you perform the work remotely (in Canada). However, there are some exemptions and it does depend on the type of service you are providing. On the Canada Revenue Agency website, they clearly indicate that most goods and services [...]

Comments Off on Do I charge GST / HST on my remote services?
Go to Top