Goods and services Tax or GST was first introduced in Canada in the year of 1991 replacing MST. It is levied by the federal government of Canada in every province of the country. Also, along with GST, every province also levies a provincial tax of their own called the Provincial Sales Tax or PST (except in Alberta). So what is HST?
Harmonized Sales Tax (HST) is a combination of both PST and GST that a people have in certain provinces of Canada. These provinces do not charge GST and PST separately. The provinces that charge HST are:
- New Brunswick
- Newfoundland and Labrador
- Nova Scotia
- Prince Edward Island
Like all taxes, GST/HST too has its deadlines. The due date of the return is determined by the reporting period and should be mentioned on top of the Form GST34-2. Also, if you fail to file and pay the due taxes by due date the government will charge penalties and interest on the outstanding amount. Also filing a GST/HST return is mandatory, even if:
- there are no business transactions
- no net tax to remit
Filing GST/HST returns can be a confusing and meticulous process, even the most experience business-owners can make mistake. If you too need to file GST/HST Returns, we can always help you out.
How we can make GST/HST Return Filing Easy
Like income taxes for self-employed and salaried professionals, business also need file its returns. But filing returns can be a tough ask if you're unaware of the entire process. You might miss out on opportunities of rebates and earning credits which helps in the long run. But with professional help, the process can be simplified.
We have a team of professional who are well-versed with the norms and regulations of GST/HST return filing and the related procedure.
- Get consultation for managing finances
- Return filings with complete assistance
- Dedicated team experts with an eye for detail
- Verification and reviews to avoid discrepancies
- Streamlined process and payment within due date