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If your small business is classed as a small supplier, you’ll want to watch your revenue carefully. When you register to collect GST/HST, your business will be assigned a business number ; this is the number that you and the Canada Revenue Agency will use to identify your business.
GST/HST NETFILE is an Internet-based filing service that allows eligible registrants to file their goods and services tax/harmonized sales tax (GST/HST) returns directly to the canada revenue agency (cra) over the Internet.
PLUS GST. The worst case is if it increases purchases that are made to international companies that mostly sell imported goods, and who try to minimise their local tax exposure. Although I don’t know if this would really happen, as a lot of these imported goods are more expensive here even with GST taken out.
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Life Cycle Types of businesses, life of a business. Refer to the basic rules to find out if you are required to register your business for the GST and QST and for information about types of supplies and the consumption taxes that apply depending on the place of supply. The rules also contain information about your obligations regarding the.
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The NBN is NOT about the speeds that the average home based user can get, the real reason for the NBN is because the Government knows that it will drive small business to another level – small business derives huge amounts of TAX for the government and if small business makes more, then so does the Government.
GST / hst quick method Calculator. As a small business, we file our GST 4 times a year, we’ve had trouble finding a decent GST/HST calculator. I always like to read the information on the CRA website first and then find a calculator to see if I understood how file pretty well.
Currently only those businesses that voluntarily register for the GST system can lodge an annual GST return, while all others must lodge quarterly Business Activity Statements.