How to File GST/HST Return Online in Canada in 2024 ✅ NETFILE GST/HST Filing Tutorial
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- Опубликовано: 1 июн 2024
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In this video tutorial, I'm going to show you How To File Your GST HST Return Online using CRA's Netfile In 2024. In Canada, you are required to start collecting GST/HST (Sales Tax) once you surpass the $30,000 threshold in total sales before expenses. I'll share with you the step-by-step process on how to file your return, how to calculate input tax credits (ITC), Quick method vs. Regular method & much more! #gstfiling #gstreturn #gst #hst #gsthst #canadiantax #canadianbusiness #taxcalculation
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TIMESTAMPS
00:00 Start
00:07 What's A GST/HST Number
00:16 When To Register For & Start Charging GST/HST
01:00 GST/HST Accounting Methods (Quick Method vs. Simplified Method)
01:28 GST/HST Return Working Copy
01:43 How To File GST/HST Return Online with Netfile ( Step By Step )
04:00 Input Tax Credits (ITC) Calculation of Qualified Expenses
04:25 GST/HST Netfile ( Step By Step )
04:48 Review Your GST HST Return
05:00 GST HST Netfile Confirmation Page
05:13 Watch My Next Video
Got Questions? Comment below 👇🏻
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✅ Watch this next: How To Register for GST/HST in Canada ruclips.net/video/qzKO-XfHSk0/видео.html
I never knew filing GST / HST could be so easy. Thanks for straight and simple instructions. :)
My pleasure!
Thank you so much to make this video. It rescued me for the last day GST filing.
Glad it helped
Thank you that was straight to the point and clear!
My pleasure
Very simple and helpful! Thank you!
My pleasure 🙏🏻
Thank you so much! That was super helpful.
You're welcome!
This was so helpful! Thank you!
Glad it was helpful!
God Bless you brother. Thanks for the help!
Thanks for watching!
thank you for your simplified and helpful video.
Glad it was helpful!
Excellent presentation, which numbers from Uber tax summary needs to be added which will give you gross sale?
Great basic and useful information and steps - this is a good primer - thx for sharing with us!
Glad it was helpful!
Thank you so much. That was very helpful
Thanks, it was very helpful for me.
Way to go
Glad it helped 🙏🏻
Great video help me out allot we need more than of this to help those small businesses out especially starting out
Glad it was helpful!
Really easy to follow. Thanks 🙏
My pleasure
Thanks for your help. Appriciated
Happy to help
Thank-you for making this video it was helpful.
My pleasure
awesome , thank you!
Thanks for watching!
The "line 105" are these lines directly correlated to my filed tax return? I see these numbers on my files returns but some are confusing so I'm not sure if they are directly from that or if these are different.
for line 108 the formula total expenses*5% stays the same for everyone? i need to file my uber and lyft hst so will i use 5%?
Very useful video. I shared with my clients and myself filing first time GST online went through all the way nicely. Better to watch twice. Also know which payment method it takes.Thanks.
I sell my products to US and Canada. For the line 101, should I put my total sales amount including both markets, or Canadian sales only? Thank you.
how to get exact numbers for line 10 and all other lines????? will they be the exact same just like we get it from our T4 form
do we have to file T2 corporate tax as well or this is the only requirement to finalize your tax returns for Inc. Business in Canada?
Thank you for doing this
My pleasure
Thanks for nice video. Expense without payroll?
Is GST the proceeds of the purchases we buy of food and clothing, or are they payments from the Canadian government, please?
Is your video for international student and 1st time filing for tax refund and gst?
Thank you!!
Thanks bro:) helpful:))
Glad to hear that. Thanks for watching!
Liked it, simple and effective.
This makes the accountants feel down as they always used to look at us from above 😅😅😅😅
Glad it was helpful! Thanks for watching
Thanks a lot Ali.
My pleasure
Great video. But, i have a question about the list of ITCs that you have listed
Bank charges / interest expense - How can you claim 5% of GST on this? Bank charges never show tax?
Meals and entertainment - again, you can claim 5% of this amount as an ITC?? really?
Lets say I’m claiming part of my car payments so if my car payment was 500$ per month , how much of the GST/HST paid on car payments could I claim?
for line 101, is that gross sales or net sales?
How do I claim the 1% credit using the netfile as it is not showing me the line 107? In your example also it is not there
Thank you 🙏🏽
Thank you brother...
You're welcome!
can you please help me? Reporting periods, I put there from 1.1. 2022 to 31.12. 2022 and is saying According to our records, the dates you entered for your reporting period are not valid for your account.
Please check your reporting period dates and try again. (Ref. code: 002)
I have no idea what to do
Hi. I don't have enough daily transaction limit. So can I make 2 payments (eg. If I want to return 4000 cad then can I make 2000 today and another 2000 cad transaction on next day using above steps)? Will that work?
thank you so much
You're welcome!
how long does it typically take to get the refund. I filed on June 15 and its still not here July 7
Hi Ali Thank you for this video. Could Iget more advice from you? I live in Vancouver
Yes of course!
After entering my SIN, I'm not able to login into CRA, please help
Why multiply by 5% only 4:09
I previously registered for my GST/HST, but I only a total of $600 for ubereats (less than 30k), do I need to file my gst/hst since I already registered for my GST/HST? What do I have to do?
If you collected gst/hst on your ubereats income, then you have to file HST return.
Uber and lyft both is big time scam because these companies are owners are biggest scammers on the face of the earth they make drivers to kill their cars km etc etc in returns the hst they have to do it they’re making drivers to pay from their own pockets don’t get your selves screwed up with them it’s scam.
Regarding Line 101: Are we including the total income with or without HST/GST?
Without GST
Ali.. are you in Ontario. can you do my Taxes for me ? I live in Kingston Ontario
Why can we only claim the GST of 5% in ITCs? What about the 8% HST that I paid on my business expenses? I am in Ontario btw. Thanks
Yes curious about this also!
Was thinking maybe because hes from a different province that doesnt have 13% tax?
@@jemiathangaming1177 I'm in Ontario as well, therefore, assuming we apply 13% in this situation.
Thoughts folks?
Is the total sales before tax or after tax? And is it total sales in Canada or worldwide? Thanks in advance.
Before tax and you can only charge tax if being sold to Canada. If you are selling to outside of Canada, you don't charge tax
My accountant told me that I cannot do a refund because I have to spend a lot as a sole proprietor and I don't want just to pay quarterly is that a good reason to have a refund or my accountant was just making money from me?
You can deduct GST/HST paid on internet, phone plan, utilities, meals and etc.
Getting a refund depends on your income and expenses. Sometimes you get a refund if you calculate all of your business expenses correctly
How to file a return If I didn't make any sales? Is it the same? What happen if I forgot to file the return?
You should file a nil return which means everything is gonna be zero
whenever I try to start a return the dates say
"According to our records, the dates you entered for your reporting period are not valid for your account.
Please check your reporting period dates and try again"
I cannot get passed this. I am trying to report sales tax from last year
If it doesn’t work with your current dates, select Jan 1st to Dec 30th
make sure, you are not selecting the dates before your GST/HST/BN was approved.
It can be before the GST HST registration date. Make sure the period starts from the 1st day of the quarter and ends with last day of the respective month of the quarter or calendar year as applicable in your case. Refer to the mail sent by CRA. It has all the instructions.
Is that only for business? Or individuals are also considered business? A bit confused.
Both
This looks like the simplified method. Can you make a video of quick method?
Sure, I will.
@@AliRastegari hey Ali, did had the chance to create a tutorial for the quick method return?
Why only 5 % of exps.. Even if we paid 13 % HST on exps?
As I mentioned in the video, every province is different for example in BC it’s 12% but it’s 5% GST + 7% PST and you need to file them separately. Hope that helps 👍🏻
Hi Ali, That is the best video you do. If I need some questions, How I can contact you. Thanks
This was so helpful! Thank you!
My pleasure