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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Important Tax Changes for BC and PEI

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close up of female accountant or banker making calculations. savings, finances and economy concept

We recently received this email from Intuit, detailing some upcoming important tax changes for changes to sales tax in British Columbia and Prince Edward Island, which will take effect on April 1, 2013. The email also provides some information on how to update your tax codes in QuickBooks in order to ...

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HST Small Business Transition Support

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HST info for businessBy now you should have received a cheque in the mail from CRA which is your Small Business Transition Support Payment for HST.  If you aren’t sure why you received the money, it is as a result of the introduction of HST in Ontario on July 1, 2010.  The Ontario Government introduced this one time payment to small businesses to help small businesses with costs related ...

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