GST RETURN
GST/HST Registration & Filing
All businesses with revenues over $30,000 in in any single calendar quarter and in the last four consecutive calendar quarters must register for GST/HST and file a GST/HST return even if there is no tax to remit.
If you don’t file your GST/HST return by the return’s due date (monthly, quarterly, or annually), the CRA will begin charging penalties and interest on any returns or amounts that they have not received. This can cause unnecessary costs and headaches to new and small businesses.
Filing Frequency
There are three levels of filing frequency depending on the amount of your taxable sales.
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Filing for GST
Goods and Services Tax
and Harmonized Sales Tax (HST) is often confusing for small business owners. It is important to understand when your business must charge GST/HST, in addition to all regulatory filings, reporting, and remitting requirements. Failing to meet tax deadlines may result in late penalties.
| Annual Taxable Sales | Filing Frequency |
|---|---|
| $1,500,000 or less | Annual (quarterly or monthly are optional) |
| $1,500,001 – $6,000,000 | Quarterly (monthly is optional) |
| Over $6,000,000 | Monthly |
Type and Place of Supply
In order to know which GST/HST rate to apply, you have to determine what type of goods or services you’re selling, and the place they are supplied.
Some items, such as groceries and agricultural or fishery supplies, are zero rated and no GST/HST is charged in Canada. Other items are exempt, including long-term residential rentals and most health, medical, dental, child care, and educational services. For exempt services, it may be possible to claim input tax credits for any GST/HST paid. Additionally, certain organizations, such as charities or municipalities, may be exempt from charging GST/HST. Most other goods or services are taxable.
For detailed information on GST/HST classification of various goods and services, visit the Government of Canada.
GST/HST Rates for Taxable Supplies
Once the type of goods and services and the place of supply are defined, the applicable GST/HST rates can be determined.
| Place of Supply | Rate | Type |
|---|---|---|
| British Columbia Note 1 | 12% | GST + PST |
| Manitoba Note 1 | 13% | GST + PST |
| Ontario | 8% | HST |
| New Brunswick | 10% | HST |
| Newfoundland and Labrador | 10% | HST |
| Nova Scotia | 10% | HST |
| Prince Edward Island | 10% | HST |
| Quebec Note 2 | 14.975% | GST + QST |
| Saskatchewan Note 3 | 11% | GST + QST |
1. You are required to register with these provinces, collect the PST, and file PST returns.
2. If you are a non-resident of Quebec and have no physical presence or employees there, you are exempt from registering for, and filing, QST.
3. The requirement to register and remit PST is optional in Saskatchewan but, if you choose not to register, the customer is required to pay the PST.
FAQ
Popular Question
Below you'll find answers to the questions we get asked the most about Tax Return Filing.
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You should select Income from Business/Profession as your source of income while filing your taxes through the Access Accounting Solutions website
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Income from interest usually mentioned on T5 slips. Interest from personal investments is categorized and should be shown as Income From Other Sources.
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You don’t need to pay taxes on your shares prices fluctuations and mutual fund income if you have not sold them during the year. Any gain/loss on the sale of shares will be reported as capital gains on your TR.
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E-filing your Income-tax return is nothing but filing your Income-tax return online. CRA is aggressively encouraging every Canadian to file TR online. However, there are some exceptions to Senior citizens and people having no access to internet can still file TR on paper.
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Income Tax online filing is a simple process and can be done by sitting at home with Access Accounting Solutions.
Step 1: Visit the Access Accounting Solutions website. Here, click on the option File TR Now.
Step 2: Here Select your source of Income and click on continue.
Step 3: If you're a salaried individual, Just Upload your T4.
Step 4: Enter the Financial Year, SIN, DOB and other basic details like your Employment Details, Deductions(If Any), bank details. After giving the details of all the information
Step 5: Review your tax computation and click on the “File My ITR” button.
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Yes, Access Accounting Solutions is entirely safe as it is a registered authorized income access accounting solutions with CRA. In addition, we have encrypted the data using the latest technology and the website has several security layers that keep your data secure.