Is HST Charged on Every Product I Sell?

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This is another bookkeeping and accounting question that we’d like to use this blog to address.

The simple answer is no. The government has decided to allow “point of sale” rebates on certain products or services. What this means, is that on some items you can provide your customer with a rebate on the provincial portion of the HST and only charge them 5%. Some of these categories include children’s clothing and footwear, car seats, books, diapers and feminine products. So, ...

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Federal Budget 2014: Analysis: What does it mean for business?

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2014 Canadian Federal BudgetThis week, the federal government released the 2014 federal budget, and businesses across the country are wondering how it will impact them.

I’ve never been a big follower of the budget in the past, until I became a business owner.  Now, I’m ...

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And it’s that time again….T4 Filing in Canada

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T4 FilingThe holiday season is now over and so we launch into January and April, which for business owners is T4 time.  It’s certainly not a fun time for a lot of employers, especially if they are calculating payroll manually throughout the year with the help of Canada Revenue Agency (CRA) calculators.  Even if you are using a software program like QuickBooks ...

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