Questions tagged [hst]
HST is the Harmonized Sales Tax in effect in several Canadian provinces. This is a combination of Federal and Provincial taxes that are applied in one transaction.
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How to calculate total profit when doing assignment sale in ontario?
I am learning about assignment sales, and I wanted to fully work out what are all the calculations and fees/taxes when calculating the final net profit I would keep if I do an assignment sale, and was ...
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2 out of 3 events rule in gst
Why in India when rate of tax changes during supply 2 out of 3 events rule applies that is when 2 out of 3 things, ( provision of goods,receipt of payment,issue of invoice) occurs then that date is ...
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Charging HST on a product where a portion goes directly as a donation to someone else [Canada]
I'm launching a business that helps other people/organizations to fundraise. In some ways it is similar to GoFundMe or Kickstarter in a sense that much of the intention of the business is to pass the ...
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Capital gains when selling my boat and HST in Ontario Canada
Someone gifted me a boat and provided me with the original receipt that shows what they paid for it. I can see they paid $47000 + HST (=$53110).
If I sold the boat to a friend for $50000, do I need ...
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How is GST/HST treated when you file corporate tax?
FOR CANADA:
Let's assume I make $100,000 in sales with a 13% HST tax = $113,000 in a year. Also let's assume zero expenses for the year. I pay $13,000 in HST.
Are my corporate income taxes on $100,000?...
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Ontario, Canada rules for tax rates for services
In Canada, various provincial and federal taxes are applied to goods and services. In the event that a tax rate changes, there can often be confusion as to which tax rate to use for services rendered. ...
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How to apply 1% rate reduction using GST/QST Quick method?
I use Quick method for calcualting GST/QST remittances:
The Quick Method is a simplified accounting method designed to help
registrants calculate the GST and QST they must remit to Revenu
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Canada Taxes GST and HST on different goods
I'm developing an eCommerce site for a client whose shop is based in Ontario, Canada. They sell books, DVDs and music CDs to all provinces in Canada. After reading up on Canada's sales-tax system, the ...
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Am I supposed to get "GST/HST credit" cheques even if I have substantial savings abroad?
I have moved to Canada, Nova Scotia about a year ago, so I filed my first tax return (2017) already. Long story short, I lived the entire year out of my own savings - there was no income and no ...
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Am I required to have my website registered as a business in Canada to collect HST?
Am I required to have my website registered as a business in Canada ON, to be able to sell ads? does the amount of income makes any difference?
The reason I am asking this is I have been told that if ...
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Can I still charge and keep money from my small business, listed under HST?
This question relates to the province of Ontario in Canada.
As a small business owner, there is an exemption where you are not required to charge HST on goods and services if you make under thirty ...
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Can I claim GST/HST Input Tax Credits (ITCs) on Uber, taxi, or limousine fares?
Uber invoices do not include a GST/HST number, and tax is not separated. On the other hand, Uber drivers ARE required to be registered for GST/HST and collect & remit the tax.
http://...
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If I have a sole proprietorship making under $30k, can I register an HST account but not charge HST?
Can I create an HST account for my sole proprietorship but not charge HST if I don't make more than $30k? Can my HST account just sit there?
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Do I have to file two tax returns if I am employed and self-employed?
I am employed full-time by an employer that does tax deductions but I also work freelance on the side which I do have a business number for and collect HST.
I know I have to fill out the HST forms (...
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US Citizen living and working in Canada for US company - HST?
I am a US citizen living and working in Canada for a small US company that provides consulting services to a large Canadian company. I am considered an independent contractor; and am paid in US ...
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