GST Preparation and Filing – Sherwood Park Alberta

Did you know that all business with sales of a specific amount annually is required to charge GST. If you charge GST you are required to File GST.

Sherwood Park Alberta Bomcas Accounting and Tax Services team will assist with registering your GST number, collecting GST return, submitting GST reports, and remitting / paying GST owing to the Canada Revenue Agency (CRA).

Our objective is to help you our clients develop a GST tax strategy to minimize your GST tax owning as it relates to CRA rule and regulation in preventing any penalty’s and interest on late filling.

However, If your Canadian business needs to charge GST/HST, you need to know the difference between GST/HST zero-rated and GST/HST exempt goods and services. (Not all Canadian businesses must charge GST/HST; find out if yours does.)

Also, from the point of view of the business owner, there is a difference in how the two classes of goods and services are treated when filing a GST/HST return. Contact us today — we will be happy to assist you with all your GST filings

Who pays the GST/HST?

Almost everyone has to pay the GST/HST on purchases of taxable supplies of property and services (other than zero-rated supplies). However, Indians and some groups and organizations, such as certain provincial and territorial governments, do not always pay the GST/HST on their purchases. For more information, see Guide RC4022, General Information for GST/HST Registrants.

Taxable supplies

Most property and services supplied in or imported into Canada are subject to the GST/HST.

Taxable supplies (other than zero-rated)

The following are examples of taxable, other than zero-rated, supplies (for the list of all applicable GST/HST rates, go to GST/HST calculator (and rates)):

• sales and rentals of commercial real property;
• sales and leases of automobiles;
• car repairs;
• taxi or commercial ride-sharing services;
• legal and accounting services;
• publications such as books, magazines, and periodicals;
• rights to operate franchises;
• hotel accommodation; and
• barber and hairstylist services.

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