GST/HST Account Registrations
The GST/HST applies to most transactions from manufacturing to marketing and sales. Businesses and organizations registered for the GST/HST are referred to as registrants.
HST registrants who make taxable supplies (other than zero-rated supplies) in one of these participating provinces collect tax at the provincial HST rate. Registrants collect tax at the 5% GST rate on taxable supplies made in the rest of Canada (other than zero-rated supplies). Most goods and services sold or provided in Canada are taxable at the rate of 5% (GST) or 12% to 15% (HST). Certain items, such as sales of basic groceries and prescription drugs are taxable at a rate of 0%. These are referred to as zero-rated goods and services. A limited number of goods and services are exempt from the GST/HST.
A business must register to obtain a business number with a GST/HST account. Registrants can claim a credit to recover the GST/HST that is paid or payable on purchases used to provide taxable goods and services. This credit is called an input tax credit and can be claimed for the GST/HST paid or payable for goods or services acquired or imported for use, consumption or supply in their commercial (taxable) activities.
GST/HST registrants who provide taxable goods or services have to charge and collect the GST/HST on their sales. If the GST/HST collected is greater than the GST/HST paid or payable, the difference is sent to the CRA. If the GST/HST collected is less than the GST/HST paid or payable, a refund can be claimed.
Three reasons to register:
- Unless you are a GST/HST registrant you cannot claim GST/HST input tax credits (GST/HST paid on business expenditures). If you are a GST/HST registrant and your input tax credits exceed GST/HST collected on sales, you may claim a refund of the excess from Canada Revenue Agency. If you’re not a registrant the GST/HST paid on expenses is included as part of the expense when computing net income.
- Not being registered for GST/HST tells everyone that you are running a truly small business. (Your sales are below $30,000 per year) If your customers are other businesses, they expect to pay GST/HST.
- Companies that are required to register for GST/HST must remit the GST/HST tax to Canada Revenue Agency – even if it has not been collected from the customer. By registering for GST/HST upon starting your business you will eliminate the possibility of inadvertently surpassing the $30,000 threshold and being exposed to penalties and interest charges for noncompliance
- A fast and easy process you can complete online
- There is no need to travel, we can contact you directly by phone, fax, or e-mail.
- Our experience and expertise means youork for you, not the government.
- For a small fee of $39.95 we will do all the necessary work for you.
Payroll Account Registration
A payroll account number assigned to either an employer or payer for the purpose of identifying themselves when communicating with the Canada Revenue Agency (CRA).
You could be considered an employer if :
- You pay salaries, wages , bonuses, vacation pay, or tips to your employees; or
- You provide taxable benefits or allowances, such as board and lodging, to your employee
Once you have opened your payroll account you will need to calculate the CPP contributions, EI premiums, and income tax deductions based on the amounts you pay your employees. You also have to calculate your share. Hold these amounts in trust for the Receiver General in a separate account from your operating business account.
If you are an employer you have to follow the payroll requirements set out by the CRA. You have to register for a payroll account before the first remittance due date. Your first remittance due date is the 15th day of the month following the month in which you began withholding deductions from your employee’s pay.
We can easily help you with the registration process and use our expertise to complete the process. We’re offering you;
- A fast and easy process you can complete online
- There is no need to travel, we can contact you directly by phone, fax, or e-mail.
- Our experience and expertise means youork for you, not the government.
- For a small fee of $39.95 we will do all the necessary work for you.
Import/Export Account Registration
If you import goods into Canada or export goods to other countries, you should register for a Business Number (BN) with an import-export account. The number is used by the Canada Border Services Agency to process customs documents. When completing the request for a BN, include all your business names that may appear on customs release forms and documents, such as invoices.
If the name on the customs release document is different from the name on the account, your goods may be held up at the border. To avoid delays at the border, open your account before you import or export goods.
If you do not use the account, it will expire after two years. You can reactivate it by contacting the Canada Border Services Agency. If there is any change in your status (e.g., name or address change), you must report these changes as soon as possible to the Canada Revenue Agency.
We can easily help you with the registration process and use our expertise to complete the process. We’re offering you;
- A fast and easy process you can complete online
- There is no need to travel, we can contact you directly by phone, fax, or e-mail.
- Our experience and expertise means youork for you, not the government.
- For a small fee of $39.95 we will do all the necessary work for you.