What You Need to Know About Filing GST HST
Tuesday July 29, 2008
GST HST for the reporting period April 1st to June 30th is due this Thursday (July 31st).
Remember that if you are a GST HST registrant, you must file GST HST returns on schedule, even if there is nothing to report (as you didn't collect any GST HST during that reporting period).
The thing that always amazes me about GST HST is how convoluted and complicated the process is. Even if you've been doing it for years, you'll suddenly run up against an exemption or a rule you know nothing about.
For instance, at the bank the other day when attempting to file GST, I learned that you can't pay your GST HST at a bank if you're filing a nill return. Because the bank system attaches your GST HST number to the money sent in to the Canada Revenue Agency, if there's no money, there's nothing to send.
(Guess what I did to get around this problem? You got it! Made a payment of a token amount so I didn't have to send my GST return through the mail.)
The point being that even us old hands sometimes need a refresher - or need to learn more about something we thought we already knew all about. Find the information you need with these Answers to Common GST HST Questions.
And if you're not a GST HST registrant, believe it or not, you might want to become one voluntarily. See Why would I want to register for the GST if I don't have to?. It can be quite an advantage for some businesses.
Related: Register for the GST
Remember that if you are a GST HST registrant, you must file GST HST returns on schedule, even if there is nothing to report (as you didn't collect any GST HST during that reporting period).
The thing that always amazes me about GST HST is how convoluted and complicated the process is. Even if you've been doing it for years, you'll suddenly run up against an exemption or a rule you know nothing about.
For instance, at the bank the other day when attempting to file GST, I learned that you can't pay your GST HST at a bank if you're filing a nill return. Because the bank system attaches your GST HST number to the money sent in to the Canada Revenue Agency, if there's no money, there's nothing to send.
(Guess what I did to get around this problem? You got it! Made a payment of a token amount so I didn't have to send my GST return through the mail.)
The point being that even us old hands sometimes need a refresher - or need to learn more about something we thought we already knew all about. Find the information you need with these Answers to Common GST HST Questions.
And if you're not a GST HST registrant, believe it or not, you might want to become one voluntarily. See Why would I want to register for the GST if I don't have to?. It can be quite an advantage for some businesses.
Related: Register for the GST
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