It is hell easy to register yourself for GST or HST with BG Accounting and Business Solutions right here. Check out the link to get painless processing of your GST or HST account. Link= https://bgaccountinggroup.com/hashim-chaudhry/ You must fulfill the two main requirements to register for GST or HST:
- If you’re selling taxable supplies in Canada
- OR your business has generated over $30,000 in the last 12 months.
Remember, many services in Canada are subject to taxes, including car repairs, hotel stays, clothing, shoes, and consulting services. So, if you register then how would you know what taxes you need to collect?
Well, it all depends on your location as in which province you’re currently living in Canada. You may need to charge GST and HST or GST and PST. If you live in Ontario, Nova Scotia, New Brunswick, PEI, or Newfoundland, you must collect HST. This is because these provinces have combined GST and PST to form HST specifically for businesses.
You need to charge both GST and PST in British Columbia, Saskatchewan, Quebec, and Manitoba. Only the GST applies in Alberta, Yukon, Nunavut, and North West territories.
PRO TIP: Sometimes it is quite helpful to register for GST or HST account numbers earlier than the $30,000 limit. The reason is very simple to win back the tax credits for the business.
After you register for GST or HST account, you not only start to charge your clients the taxable amount but any GST or HST you pay in terms of expenses can be used as a tax credit at the end of the year. In addition to the main rules mentioned here, there may be other specific factors that are relevant to your situation. One such factor is determining whether the items you sell are subject to taxes.