Maybe one day I won't forget everything in the time between remittances, but until then, I really enjoy our time together every three months :) Thank you for making this video!
Thank you so much for this video. You are right, there is barely information out there about filing your taxes in Canada. We need more videos like this!
This is soooo helpful! I just started my corporation and have to file monthly (for some reason, although I don't make over 1.5M not even close lol). I was panicing but it seems super easy. Thanks a lot!
I am sooooo grateful for you and these videos you make! I started a dog grooming business with next to no business knowledge and thanks to you I have been able to figure this stuff out without any tears! lol Wishing you all the success!
Thank you, Thank you! Your videos are so concise, and truly not intimidating at all! While I am doing this for my husband's small business (I came across your video in google) I will be sure to peruse all your content as I work towards setting up my own small business. Thank you again and look forward to seeing more of your videos in the future.
Thank you very much. This took a huge burden of stress off my head lol. I also loved the expression of your personality. Made the content easier to get through and digest, somehow. 😊
Jessica, your videos are so helpful! Here's a question: Since you can only claim the business portion on your taxes if you have expenses that are both personal & business such as gas receipts, hydro, cell phone can you only claim a portion of the GST/HST as ITC's on your GST/HST return?
Thank you sooo much and this is very helpful for first time GST filers! I did a lot of googling and couldn't find useful result on How to file (most of stuff is about how to calculate with either the quick or regular method). Hope this can help as many people as it can as I'm sure a lot people are confused for the first time. Thanksss again for the great content!
Hello Jessica, what about FBA Amazon is collecting the taxe for us, do we need to just show the sales to gorverment, Amazon is doing the taxe fufill for us. Thank you
WOW thank you Jessica!! How little info is out there is abysmal! You'd think the government would wanna make it easier for small businesses that contribute to the economy 🤦🏻♀️
There's more info here about how to make the request, but basically you log into your CRA My Business Account and file an election quickbooks.intuit.com/ca/resources/taxes/how-when-change-gst-reporting-period/
Hi Jessica, Very helpful video thank you. Do you know where I would include late filing fees/penalties amount when filing my return? Would I just include it in my total amount owing or is there a separate process. I want it to be clear I have calculated it and included it so they don't try to charge me more.
Love this! Please make videos about entrepreneurship. I am an entrepreneur that has business in onyario but live in Quebec. entrepreneurship is getting quite hard and i am thinking of quitting and going back to a 9-5. However, with chanels like yours give me a light through the tunnel.
Hi Jessica! Your video was so helpful. Thank you for the great content, we totally subscribed! This is the first time we will be filing GST and our registration letter from the CRA indicates that our first reporting period is May 24, 2023 to Dec 31, 2023. When we fill out line 101 should it be for total sales for the reporting period only (so essentially from when we started collecting GST) or for the full year (Jan 1 to Dec 31). Thank you!
This video is perfect, thank you! I have one question and hoping you might be able to help. So during this tax year, the first $3400 I earned had just put me at the $30k threshold to where I had to then register for GST/HST number…. When I’m submitting my HST to the government and it says “total income”…. Would that $3400 be included in the total, or is it only asking for total income of which I actually collected HST on? Any info is greatly appreciated :)
I am wondering that, too - I'm guessing we need to report the whole amount we earned. Did you ever find out the answer to this (if you don't mind me asking)? Thanks~
Hey Jessica do you have a video or blog post talking about how you sort out taxes for clients in places like BC and Manitoba where it’s two different taxes you have to charge? I’m from Ontario with a new Manitoba client and so confused because I have a GST/HST and have charged them 5% but didn’t know I have to register for RST and charge them 7%... do I have to pass a certain threshold to register for RST? Or PST for my new BC client?
Great questions! I'm definitely planning on making another video/blog post specifically on clearing up provincial sales tax, so let me get back to you!
Hi, first I'd like to thank you for making these videos. It has helped me a lot and helping me moving forward. I wanted to ask you about HST. I'm in BC and will be starting a business selling clothing. If I'm selling out of province, I have to charge HST? That's what I'm getting out of your video. I saw your previous video stating that if you sell to the U.S., they don't pay/get charged taxes. Just wanted to clarify. Thank you.
Quick question. I saw your part about the nill part of the video. If I made nothing and did nothing with the business in 2023 I would send the returning document with all 0's? Thank you!
As you mentioned, this is the first video where i have seen how to pay GST/HST using CRA Canada. Very very useful and thank for you for making this video. I was struggling to get this information from few months and this video made it possible. Thank you so much. :) If you don't mind can you share 1. How to file Corporate tax in Ontario? 2. How to move money from Business account to Personal account at the end of the year?
Jessica... thank you SO MUCH for this video. It's genuinely helped me understand this process better than anything I've read or any of my calls to the CRA. Could you explain how you report your US revenue? Is it just in line 101 but untaxed?
Correct! You would include that in line 101 where you are to report all your business revenue. A more detailed explanation can be found here: www.welchllp.com/blog/line-101-gst-hst-return/
Awesome video thanks for sharing this content. I have a quick question, I hope you can help me. I started selling on Amazon US and ALL of my sales are outside of Canada, so I do not collect HST or GST but I am still registered in order to get the rebate from supplies I purchase in Canada. Should I report my sales in line 101 with 0 collected HST or should I do it on line 91. I don't know if the form has been updated to input this type of income.
In general yes, but you likely can't claim the entire amout of GST/HST on the vehicle you purchase unless it is 100% used for business, and wouldn't be able to claim all of the allowable ITC in the year you purchases it since a car, as such as big expense, would be considered a capital cost allowance. I'd definitely suggest talking with your accountant about this but here are a few resources with some more info www.taxtips.ca/gst/itcvehicles.htm kitchener.tabangimotors.com/blog/how-to-buy-a-car-under-a-corporation-in-canada/ accountingottawa.com/tax-hst-itc-purchased-leased-vehicles/
Thank you so much Jessica, what a great video! However, I am a bit confused about some basics of GST/HST, if you could bear with me with a few minutes it would be much appreciated. I started my own online business in Quebec, and I am about to reach the $30k threshold as the income. Since it's a online business I get clients mostly from Canada and USA. I understand that I have charge GST 5% and QST 9.975% in Quebec, what confused me is that if the client is based in Ontario, which provincial rate I should apply? Should I apply QST 9.975% on matter where is the client based or should I apply Ontario rate and file the return to Ontario? Thank you so much in advance and looking forward to hearing from you very soon.😃
You charge clients sales tax based on where the place of supply is, so that would mean their province of residence. I share more in here jessicamoorhouse.com/sales-tax-in-canada-hst-gst-pst-self-employed/
@@jessicamoorhouse That article is fantastic! For anyone wondering, remember that ONLY the GST/HST needs to be paid to the CRA. Anything PST/QST = the province and you need to register an account with each province to be able to pay it! (It's only 4 provinces but it can be a pain!!!) Jessica, honestly your article is so good that I am going to reuse it on forums :)
It's the GST that you pay on business expenses that you could report as input tax credits. So if you bought something for $100 plus 5% GST ($5), paying a total of $105, when filing your GST you could input that $5 as a credit towards any GST you collected from your customers and remitted to the government. More info about ITCs can be found here www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4022/general-information-gst-hst-registrants.html
I have a question about line 101. Sales and other revenue are primarily from global sales, with Canadian sales comprising only a small portion. Shouldn't we provide more information on line 90 to clarify that the taxable sale made in Canada is just a small portion of the total? Thanks.
Should I get (and learn) some software? I only send out about 30 bills per year amounting to about 100k. It's quite easy to keep track of on excel spreadsheet I made, except I don't bother to check my accumulated through the year. Some months are zero, some are 30k. I use the quick method. Do I have to report accurate sales for each quarter? What is the deadline for each quarter? What do you suggest?
This video is amazing, thank you Jessica! I don't qualify for a Business account because I'm a freelancer, but I still need to file GST/HST. How can we file GST/HST without a CRA My Business account?
You need to register for a CRA My Business account then. A freelancer just means you're a sole proprietor. In these videos, that's exactly what I was too. You can register for an account here: apps1.ams-sga.cra-arc.gc.ca/gol-ged/awsc/amss/browser/check?program=mbsl&target=register&lang=en
Hi Jessica, I just filed my taxes for my business, but I did this late after I received mail saying I owe over 1000$ when I did not even make that much during the reporting period. The new filing is being processed, would I still have to pay the estimated amount made by CRA? even though its incorrect?
I'm hoping someone can answer this for me. If you are claiming ITC's, do you have to subtract that gst amount from your expenses then? So it reduces the amount you can claim on expenses which increases the amount of income tax you have to pay. And if that's the case, then what's the benefit of claiming ITC's. Thanks! (awesome video by the way. You explain everything so beautifully. This is just one aspect about gst and ITC's that I can't quite wrap my head around.)
This article should explain how ITCs works. But in general, using ITCs just means you'll get back some of the GST/HST you collected from customers and remitted to the government. www.freshbooks.com/en-ca/hub/taxes/what-is-an-itc
Thanks, doing my first file.....I learned you can't file a return before the last day of the reporting period (ie June 30th).....so I've got another month before deadline! Cuz today is June 29th and I thought I had a deadline of tomorrow! Yeah!
Correct, the deadline to file and pay your GST/HST is one month after the end of the reporting period. Since the second quarter reporting period ends on June 30, June 29 would be too early to file since the reporting period hasn't finished. But as of July 1 you should be able to file and pay if you want to do it as early as possible. :)
hello where do you put exempt such as you can not charge Gst for sales to us , I have not been able to find this slot and this year seems more difficult as the one you suggested does not seem to have this slot last year I had to put it in ?? Thank you for this as is confusing
Hi, Jessica! Inside Freshbook that Expense figure is included with both COGS + Expense (overhead), I think. Can you plz confirm what is the regulation in Canada while doing GST/HST return only COGS or both?
Thank you so much! Just filed GST/HST for the first time-you basically held my hand through the entire process! Subscribed for life!!
Yay so glad I could help!
Maybe one day I won't forget everything in the time between remittances, but until then, I really enjoy our time together every three months :) Thank you for making this video!
Haha I actually love that (and ps, I've even gone back to the video for visual reminder of the steps lol).
This is exactly what I do too
@@ashleighmcnary1321 Just rewatched this week :)
Thank you so much for this video. You are right, there is barely information out there about filing your taxes in Canada. We need more videos like this!
Thanks Geoff!
Yes please!!!!!!
This was more helpful than I thought possible! Very thorough explanation!!! Thanks so much! Subscribed!
I'm so glad you found it helpful and thanks for the subscribe!
The lack of information out there is wild. You said it!
Yup!
thank you for this. I've been watching this video annually for the past 4 years
I guess this means maybe it's time for me to make an updated version (but I've gotta admit, I sometimes watch it too to job my memory).
Thank you so much for your video! So easy to follow, and it's simplicity is only matched by how thorough the information is. Can't thank you enough!!!
Thank you!
You're right. There really isn't any clear information on this - appreciated the step-by-step.
Glad you found it helpful!
Iam from India. Want to learn about Canada
You are such a lifesaver! About to file my first return!! I found the vid on the govt website so dry and I just knew you'd have something on this.
Ya as helpful as the government website can be it's sometimes not the easiest to read. Glad this video could help!
This is perfect, I will be completing this task for my wife's business and now I know how to! Thanks so much! Subbed and Liked.
Thank you!
This is soooo helpful! I just started my corporation and have to file monthly (for some reason, although I don't make over 1.5M not even close lol). I was panicing but it seems super easy. Thanks a lot!
I'm so glad you found this video helpful!
I am sooooo grateful for you and these videos you make! I started a dog grooming business with next to no business knowledge and thanks to you I have been able to figure this stuff out without any tears! lol Wishing you all the success!
That makes me so happy!
Thank you! This helped get a better understanding of how to file my first GST return. Glad that I found your channel!
I’m so glad it was helpful!
Thank you! This is the first year I've filed it on my own and this made it so clear and easy!
Yay I'm so glad!
This is exactly what I needed, I am just as visual as you. Thank you so much Jessica!
You're so welcome!
A big “THANK YOU” to you, Jessica!!
You're welcome!
you are fuckin awesome. I'm so tired of Bob Hamilton trying to confuse everyone. And you just answered all my questions within minutes. thank you
Cool! Glad you found the video helpful!
Thank you so much!! I was ready to throw my computer by the window lol! Seriously thank you!!
Happy I could help!
Thank you so much for this video! Submitted my first HST return. Couldn't have done it without you!
Yay! Glad I could help!
why wouldn't the government have a great tutorial like this ?? Thank you so much !!!
I mean, it's the government haha
@@jessicamoorhouse touché
Thank you for making this video, the HST return process now seems doable!
Yay, so glad I made it easy for you!
Thank you!! Super helpful as I am going through this process for the first time.
Thank you for making a video on this, first time submitting a return and this was extremely helpful
Yay I'm glad it was helpful!
OMG, it was a big monster until I saw your video. Thank you
Glad I could help!
Thank you Jessica! This is extremely helpful.
I'm so glad and thanks for the comment!
Omggggg this was sooooo helpfullll!!! Thank you for this!! I’m a new business owner and it was such a daunting task!
Happy to help!
This was really helpful, saved me time from calling the CRA call centre. Thanks
I'm so glad!
Great information and walk through, clear steps A-Z. Thanks for sharing and posting!
Thank you!
Thank you, Thank you! Your videos are so concise, and truly not intimidating at all! While I am doing this for my husband's small business (I came across your video in google) I will be sure to peruse all your content as I work towards setting up my own small business. Thank you again and look forward to seeing more of your videos in the future.
Yay, I'm so glad! That's all I ever want to do, make complex-seeming things simple. :)
amazing!! thank u so much for taking the time to make this video!
You're welcome!
This was sssooo helpful, clear and concise and no fluff. thank you!
I'm so glad! Thanks for watching!
Jessica...thank you so very much! Very simple and informative. Appreciate it
Happy to help!
I followed your instruction and filled GST/HST return. It was very clear and I am looking forward to do all my returns. :)
That's great to hear! Glad I made the process a bit easier!
wow thanks jessica, that just saved me from tax fraud.
Well that's good to hear haha
Thanks very much, I was looking for this information when I started my business, and couldn't find anything....you've been a great help!!!
So glad you found my video helpful!
You saved me a trip to an accountant, thanks!
You're welcome (though I'm a big fan of using an accountant when needed haha!)
Thank you very much. This took a huge burden of stress off my head lol.
I also loved the expression of your personality. Made the content easier to get through and digest, somehow. 😊
Thanks so much! And glad I was able to make filing and paying your GST/HST somewhat entertaining since it's a pretty dry topic haha
Thank you so much for this!! I just found your channel, Definitely going to be watching all of your videos!
Thank you! So glad you like my channel!
Jessica, your videos are so helpful! Here's a question: Since you can only claim the business portion on your taxes if you have expenses that are both personal & business such as gas receipts, hydro, cell phone can you only claim a portion of the GST/HST as ITC's on your GST/HST return?
You should claim the ITCs on business portion of expenses as well
Thank you for making this video! It’s really helped me figure out this new business. You found yourself a new subscriber.
Amazing, thanks and happy I could help!
Thank you sooo much and this is very helpful for first time GST filers! I did a lot of googling and couldn't find useful result on How to file (most of stuff is about how to calculate with either the quick or regular method). Hope this can help as many people as it can as I'm sure a lot people are confused for the first time. Thanksss again for the great content!
Thanks Alex!
Hello Jessica, what about FBA Amazon is collecting the taxe for us, do we need to just show the sales to gorverment, Amazon is doing the taxe fufill for us. Thank you
I was wondering about this too. Poshmark and eBay collect the tax for me. How do I show that when it's time to submit.
WOW thank you Jessica!! How little info is out there is abysmal!
You'd think the government would wanna make it easier for small businesses that contribute to the economy 🤦🏻♀️
Agreed, although the CRA's website much better than it used to be haha.
Hey Thanks a Bunch for this video! You rock 😎
Thank you! And thanks for watching!
This is awesome.! thank you so much, Jessica. I wish you a bright future 👌
Thank you! You too!
Deductions can only be done when file GST? or also can be claimed when filing you taxes every year if you didn't at the moment you file GST?
This is great. Really appreciate the detailed guidance!
You're so welcome!
This was super helpful thank you! And your energy was fantastic as well!!
Thanks so much, glad you found it helpful!
Very helpful and awesome way of presenting the hardest topic in simplest way.
Thank you!
So helpful, thank you for walking us through this!
Glad it was helpful!
You are the queen of Canadian Tax !
Haha well thanks!
Hello Jessica, Thank you so much for this video.. Question: Could you please tell me how to change my HST from Quarterly to Yearly?
There's more info here about how to make the request, but basically you log into your CRA My Business Account and file an election quickbooks.intuit.com/ca/resources/taxes/how-when-change-gst-reporting-period/
This information was excellent. Thanks for your help🎉
Thanks!
Excellent tutorial! Thanks Jessica!
Thanks!
This was tremendously helpful, thank you!!
You're welcome!
thank you so much for this video. You saved me a lot of time and money.
I'm so glad!
Thank you SO much for this!! Helped a TON
I'm so glad!
This is so amazing!! So for the quick method - would I pay 8.8% instead of 13%, and not claim the HST on my expense?
Hi Jessica, Very helpful video thank you. Do you know where I would include late filing fees/penalties amount when filing my return? Would I just include it in my total amount owing or is there a separate process. I want it to be clear I have calculated it and included it so they don't try to charge me more.
Very good, it is helpful. this is my first learning File your GST/HST. thank you
You're welcome!
Thank you Jessica for your videos. This one was especially necessary.
I'm so glad!
Thank you so much! This was super helpful as I was absolutely terrified to do this wrong
Happy I could help and make the process less scary :)
Love this! Please make videos about entrepreneurship. I am an entrepreneur that has business in onyario but live in Quebec. entrepreneurship is getting quite hard and i am thinking of quitting and going back to a 9-5. However, with chanels like yours give me a light through the tunnel.
Thanks, I'll definitely continue to make more video about entrepreneurship!
Thanks for the great info.
You're welcome!
Hi Jessica! Your video was so helpful. Thank you for the great content, we totally subscribed! This is the first time we will be filing GST and our registration letter from the CRA indicates that our first reporting period is May 24, 2023 to Dec 31, 2023. When we fill out line 101 should it be for total sales for the reporting period only (so essentially from when we started collecting GST) or for the full year (Jan 1 to Dec 31). Thank you!
Thank you so much for making this video. Definitely coming back to this.
Awesome, happy you found it helpful!
Thank you Jessica for this very easy to follow video. It was much appreciated. Best regards.
Thanks so much, glad you found it helpful!
Jessica, you are a life saver. Thank you so much for your videos.
Happy to help with my tutorial! :)
This video is perfect, thank you! I have one question and hoping you might be able to help. So during this tax year, the first $3400 I earned had just put me at the $30k threshold to where I had to then register for GST/HST number…. When I’m submitting my HST to the government and it says “total income”…. Would that $3400 be included in the total, or is it only asking for total income of which I actually collected HST on? Any info is greatly appreciated :)
I am wondering that, too - I'm guessing we need to report the whole amount we earned. Did you ever find out the answer to this (if you don't mind me asking)? Thanks~
so thankful for this video🙂
You're welcome!
Awesome!
Hey Jessica do you have a video or blog post talking about how you sort out taxes for clients in places like BC and Manitoba where it’s two different taxes you have to charge? I’m from Ontario with a new Manitoba client and so confused because I have a GST/HST and have charged them 5% but didn’t know I have to register for RST and charge them 7%... do I have to pass a certain threshold to register for RST? Or PST for my new BC client?
Great questions! I'm definitely planning on making another video/blog post specifically on clearing up provincial sales tax, so let me get back to you!
You are life saver! This video is exactly what I needed. Thank you thank you!
Glad it helped!
Hi, first I'd like to thank you for making these videos. It has helped me a lot and helping me moving forward. I wanted to ask you about HST. I'm in BC and will be starting a business selling clothing. If I'm selling out of province, I have to charge HST? That's what I'm getting out of your video. I saw your previous video stating that if you sell to the U.S., they don't pay/get charged taxes. Just wanted to clarify. Thank you.
Totally awesome thank you for this been trying to figure it out on my own and t his was incredibly helpful
Glad it helped!
Quick question. I saw your part about the nill part of the video. If I made nothing and did nothing with the business in 2023 I would send the returning document with all 0's? Thank you!
Super helpful! Not sure if you have a video covering Wave Accounting. Thanks Jessica.
I don't but I've heard good things from some users. I've never tried it myself.
Very seamless, Thanks a lot
Thank you!
As you mentioned, this is the first video where i have seen how to pay GST/HST using CRA Canada. Very very useful and thank for you for making this video. I was struggling to get this information from few months and this video made it possible. Thank you so much. :)
If you don't mind can you share
1. How to file Corporate tax in Ontario?
2. How to move money from Business account to Personal account at the end of the year?
Thanks so much! For your two questions, I'd seek the advice for a CPA to help you.
Amazing. Thank you for the information provided.
You're so welcome!
omg thank you I have been looking for this. you're an angel!
Happy to help!
This is really helpful video.thanks a lot dear.
Glad I could help!
Jessica... thank you SO MUCH for this video. It's genuinely helped me understand this process better than anything I've read or any of my calls to the CRA. Could you explain how you report your US revenue? Is it just in line 101 but untaxed?
Correct! You would include that in line 101 where you are to report all your business revenue. A more detailed explanation can be found here: www.welchllp.com/blog/line-101-gst-hst-return/
Awesome video thanks for sharing this content. I have a quick question, I hope you can help me. I started selling on Amazon US and ALL of my sales are outside of Canada, so I do not collect HST or GST but I am still registered in order to get the rebate from supplies I purchase in Canada. Should I report my sales in line 101 with 0 collected HST or should I do it on line 91. I don't know if the form has been updated to input this type of income.
I'd suggest contacting either CRA support or an accountant about this.
This is a really helpful video. Thank you so much for putting it together.
You're so welcome!
Thank you! This video was super helpful ❤
You're welcome!
Very insightful.
Thanks!
Thanks Jessica, so helpful!
I'm so glad!
Thank you so much, I have a question on ITC though. can you claim ITC on purchased car? If using it for business?
In general yes, but you likely can't claim the entire amout of GST/HST on the vehicle you purchase unless it is 100% used for business, and wouldn't be able to claim all of the allowable ITC in the year you purchases it since a car, as such as big expense, would be considered a capital cost allowance. I'd definitely suggest talking with your accountant about this but here are a few resources with some more info www.taxtips.ca/gst/itcvehicles.htm
kitchener.tabangimotors.com/blog/how-to-buy-a-car-under-a-corporation-in-canada/
accountingottawa.com/tax-hst-itc-purchased-leased-vehicles/
Thank you so much Jessica, what a great video! However, I am a bit confused about some basics of GST/HST, if you could bear with me with a few minutes it would be much appreciated. I started my own online business in Quebec, and I am about to reach the $30k threshold as the income. Since it's a online business I get clients mostly from Canada and USA. I understand that I have charge GST 5% and QST 9.975% in Quebec, what confused me is that if the client is based in Ontario, which provincial rate I should apply? Should I apply QST 9.975% on matter where is the client based or should I apply Ontario rate and file the return to Ontario? Thank you so much in advance and looking forward to hearing from you very soon.😃
You charge clients sales tax based on where the place of supply is, so that would mean their province of residence. I share more in here jessicamoorhouse.com/sales-tax-in-canada-hst-gst-pst-self-employed/
@@jessicamoorhouse That article is fantastic! For anyone wondering, remember that ONLY the GST/HST needs to be paid to the CRA. Anything PST/QST = the province and you need to register an account with each province to be able to pay it! (It's only 4 provinces but it can be a pain!!!) Jessica, honestly your article is so good that I am going to reuse it on forums :)
@@Puda Thank you, glad it was helpful!
Thanks for the video.
When you said businesses expenses gst, is this included gst from buying business office supplies like work desk, printer..ect.?
It's the GST that you pay on business expenses that you could report as input tax credits. So if you bought something for $100 plus 5% GST ($5), paying a total of $105, when filing your GST you could input that $5 as a credit towards any GST you collected from your customers and remitted to the government. More info about ITCs can be found here www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4022/general-information-gst-hst-registrants.html
This is so helpful! Thank you so much :)
You're so welcome!
I have a question about line 101. Sales and other revenue are primarily from global sales, with Canadian sales comprising only a small portion. Shouldn't we provide more information on line 90 to clarify that the taxable sale made in Canada is just a small portion of the total? Thanks.
Should I get (and learn) some software? I only send out about 30 bills per year amounting to about 100k. It's quite easy to keep track of on excel spreadsheet I made, except I don't bother to check my accumulated through the year. Some months are zero, some are 30k. I use the quick method. Do I have to report accurate sales for each quarter? What is the deadline for each quarter? What do you suggest?
This video is amazing, thank you Jessica! I don't qualify for a Business account because I'm a freelancer, but I still need to file GST/HST. How can we file GST/HST without a CRA My Business account?
You need to register for a CRA My Business account then. A freelancer just means you're a sole proprietor. In these videos, that's exactly what I was too. You can register for an account here: apps1.ams-sga.cra-arc.gc.ca/gol-ged/awsc/amss/browser/check?program=mbsl&target=register&lang=en
Hi Jessica, I just filed my taxes for my business, but I did this late after I received mail saying I owe over 1000$ when I did not even make that much during the reporting period. The new filing is being processed, would I still have to pay the estimated amount made by CRA? even though its incorrect?
I'd suggest contacting the CRA about this.
You are a lifesaver!!! Thank you so much!! 8)
Happy to help!
I'm hoping someone can answer this for me. If you are claiming ITC's, do you have to subtract that gst amount from your expenses then? So it reduces the amount you can claim on expenses which increases the amount of income tax you have to pay. And if that's the case, then what's the benefit of claiming ITC's. Thanks!
(awesome video by the way. You explain everything so beautifully. This is just one aspect about gst and ITC's that I can't quite wrap my head around.)
This article should explain how ITCs works. But in general, using ITCs just means you'll get back some of the GST/HST you collected from customers and remitted to the government. www.freshbooks.com/en-ca/hub/taxes/what-is-an-itc
Thanks, doing my first file.....I learned you can't file a return before the last day of the reporting period (ie June 30th).....so I've got another month before deadline! Cuz today is June 29th and I thought I had a deadline of tomorrow! Yeah!
Correct, the deadline to file and pay your GST/HST is one month after the end of the reporting period. Since the second quarter reporting period ends on June 30, June 29 would be too early to file since the reporting period hasn't finished. But as of July 1 you should be able to file and pay if you want to do it as early as possible. :)
hello where do you put exempt such as you can not charge Gst for sales to us , I have not been able to find this slot and this year seems more difficult as the one you suggested does not seem to have this slot last year I had to put it in ?? Thank you for this as is confusing
Hi, Jessica! Inside Freshbook that Expense figure is included with both COGS + Expense (overhead), I think. Can you plz confirm what is the regulation in Canada while doing GST/HST return only COGS or both?