Filing for Goods and Services Tax (GST) and Harmonized Sales Tax (HST) are often confusing for new business owners. Not everyone is required to charge it and in some provinces, it is combined with the retail tax into the HST. It is important to understand the rules of when your business must begin to charge GST or HST in addition to all regulatory filing, reporting, and remitting requirements.
For GST, if the fiscal year-end for your business is December 31st the CRA payment deadline is April 30th, with a filing deadline on June 15th. Depending on the size of your business, you may also be legally required to file your taxes quarterly.
Platinum Bookkeeping and Tax includes GST/HST preparation and filing in their roster of services to help businesses accurately report their return. We understand that business owners already have enough on their plate, let alone the worry of filing the business’ GST and/or HST returns on time. This may result in the owner being subjected to late penalties. We are here to take the pressure and stress out of this process away from your business. The proper management and submission of your returns will ensure you are in full compliance with current legislation. Focus on growing your business, we’ll take care of your GST or HST filings.