We Simplify Canadian Goods and Services Taxes
Filing GST can be a confusing ordeal if you’ve never dealt with it before. Do you even need to charge GST for your goods or services? What services are exempt from GST?
If you’re baffled by the complex rules and regulations of Canada’s Goods and Service Tax laws, KV & Associates can help ease your confusion and make keeping current easier with our GST-related services. We’re dedicated to making the GST process less time-consuming and as cost-efficient as possible.
There are two types of sales tax levied in Canada: provincial sales tax, and the goods and services tax (GST). Alberta does not collect provincial sales taxes. The GST is a value-added tax, with the current rate at 5% percent. When taxpayers buy goods or services, they pay GST. When the same taxpayers sell their goods or services, they collect GST from their buyers.
You are required to register for GST if:
A small supplier is an individual or business that makes less than $30,000 in taxable sales, leases, or other supplies during any consecutive four quarters. If you earn above $30,000, you need to register your business for GST. If you’re unsure if your business qualifies for GST, talking with one of the Accountants at our firm can help.
Whether you’re launching a small business or looking to expand the business you have, KV & Associates provides the assistance you need to ensure your business’s stability, particularly when taxes are due.
Don’t put your business at risk! Give KV & Associates a call today for expert advice
on navigating the ever evolving and challenging GST laws and reporting requirements.