Canadian Sales Tax Guide
GST HST in Canada
by L. Kenway BComm CPB Retired
Published August 2010 | Revised April 16, 2024 | Edited November 29, 2024
Bookkeeping-Essentials.ca
A Guide to Understanding GST HST in Canada
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GST HST in Canada - Table Of Contents
GST HST GuideIntroduction
Introduction
- Overview of GST HST in Canada and its importance for small businesses
I Understanding GST HST
I Understanding GST HST
II GST HST Registration
II GST HST Registration
- When is GST HST registration mandatory? Once $30,000 threshold has been met
- Why you might want to voluntary register for GST HST
- How to register for GST HST
III Bookkeeping for GST HST
III Bookkeeping for GST HST
- How bookkeeping software can make it easier to track sales tax
- Importance of knowing the CRA GST HST invoicing rules
- Learning your place of supply rules (What GST HST rate to charge)
- Sales tax rates across Canada
- How bad debts affect your GST HST return
- How meals and entertainment expenses affect your GST HST return
- GST/HST and the sale of business assets
Accounting Systems
- if you are a GST/HST registrant
(GST/HST collected vs GST/HST paid [ITC]) - if you are NOT a GST/HST registrant;
IV Managing GST HST Reporting
IV Managing GST HST Reporting
- How to file your GST/HST report using the Regular reporting method
- Determination of CRA reporting period sets your due date
- Two alternative filing methods for tracking and reporting GST HST - The Quick method and the Simplified method
- How to claim missed input tax credits (ITCs) on previously filed returns
V Navigating Special Cases
V Navigating Special Cases
- GST HST and online internet sales
- GST HST and out of province customers
- GST HST and web hosting / web design
- Taxable benefits and allowances subject to GST and HST
- Input tax credits (ITCs) and business use of your personal vehicle
VI Important Considerations for Small Business Owners
VI Important Considerations for Small Business Owners
- Verification of supplier's registration status to legally collect GST HST
- Special 90% rule about GST/HST rate to customers
- The financial impact of canceling your GST/HST account
VII Dealing with Audits
VII Dealing with Audits
- Your first GST/HST audit - what to expect
MORE >> Audit Process
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