How to: File GST/HST Return and Remit taxes to the Canada Revenue Agency (CRA)

[@taliatanaka9100]

Your videos are so helpful!! Very much appreacited!!

[@FixMyBooks]

You're welcome! :)

[@michaelminh673]

I will go to Canada for working as a bookeeper for Logictics company, please help me how I could prepair for myself, I am from Viet Nam. Thank a bunch ❤

[@FixMyBooks]

Hello, we have clients in the logistics field, I suggest you familiarize yourself with HST Rules as there is a lot of US-Canada Trade when it comes to logistics and HST will be tricky. Here is a guide from the CRA: www.canada.ca/en/revenue-agency/services/tax/businesses/topics/gst-hst-businesses/charge-collect-specific-situations/freight-carriers.html Good luck!

[@yweekendshooter3701]

The most helpful video for me. Thumbs up!!!

[@FixMyBooks]

Glad we could help, thank you so much!

[@Mr.Cool1312]

Could you arrange the video with numbers from 01 to xx number which easy to follow this as a course? Apreciate it if its possible.

[@GDPWorking]

GST/HST filing period is what I learned about. TY.

[@FixMyBooks]

You're welcome :)

[@GDPWorking]

I appriciate the welcome!@@FixMyBooks

[@canada4Mykids]

Thank you. Quickbook is the software to do?

[@FixMyBooks]

You can use any accounting software you want :)

[@ronbiloski907]

When calculating ITC for home business freelancer expenses, how do you calculate the percentage of the GST to use as a credit? Example internet or hydro?

[@pirakobanprabu8772]

Hi how to file or calculate GST/ HST quick method in QB?

[@ajah3247]

You nailed it. Thanks 🙏🏻 it was helpful.

[@FixMyBooks]

Thank you!

[@Ns19-u7j]

Best video. Very informative.

[@FixMyBooks]

Thank you!

[@sirbuddyli]

Hi! Great video...BTW do you know whether GST Input Tax Credits generated by paying GST on expenses, need to be added back to the corporate income? That is addback the GST ITCs to income used for T2 tax purposes?

[@FixMyBooks]

I suggest reading through: www.canada.ca/en/revenue-agency/services/tax/technical-information/technical-information-gst-hst/gst-hst-memoranda-series.html#toc6 to understand how GST and ITC's work! :)

[@scarlettmeilihongcoachy9085]

Thanks, foy your info.

[@sophiestorontolife6566]

very helpful. thank you so much! May I ask that why do we need check the profit and lost firstly? I don't think that is necessary, ☺ I think just to go to Balance sheet GST/PST payable ,and get the number then pay it, that's it. Right? thanks again

[@FixMyBooks]

Hi! It's because you need to see if the P&L matches the HST Return. If the Sales don't match then you know there is an issue. This is a basic check you should be performing since you will be declaring this amount on Line 101 of the HST return and you need to make sure your numbers match. :) Thanks!

[@melissab5008]

Thanks so much for this video! I'm filing a GST report to end of Q3 for a client that hasn't submitted Q1 or Q2. Can I just file one report for period Jan 1 - Sept 31? Or do I need to file 3 reports - one for each quarter? Thank you!!

[@FixMyBooks]

No, you need to file 3 reports, one for each quarter. You will not be able to file one report for all three quarters as you will need to match the reporting periods listed in the CRA business account when you click "View Expected and Filed Returns." Thanks!

[@melissab5008]

@@FixMyBooks Thank you! I expected this was the case. :)

[@koohyar1357]

thank you! it was helpful

[@FixMyBooks]

You're welcome!

[@HamidurRahman]

Hi Ariel You use a Microphone when recording this is good for you. I use Boya M1 pro model thats are good one

[@FixMyBooks]

Hi! Yes I have an updated video with better sound quality: kzbin.info/www/bejne/g6W9iqGfrqaljJY

[@HamidurRahman]

@@FixMyBooks yes that's are good, you also use audacity software for more voice good

[@sun99149]

what if my expense is so high and i paid too much GST for the expenses, but i did not sell too many products? my expenses is higher than my sales? will i get refund?

[@FixMyBooks]

It depends on the type of expenses you pay for (if it includes GST or not). Yes, you can get a refund if there are more ITC's than HST Charged.

[@larazika9705]

Hi, Thank you so much ,you were the best one to explained GST< just wondering to know if you have any source for QST trough Yardi software? I really stuck on that, Thank you in advance

[@FixMyBooks]

Hi, sorry, I'm not familiar with Yardi software.

[@satishmaddula]

do you do amazon book keeping?

[@FixMyBooks]

Hi! Yes we do :)

[@Vi3toutsider]

Thank you so much... very very helpful. I am looking for a book keeper any way of contacting you? I'm also in Toronto

[@FixMyBooks]

Hi! You can go to my website www.fixmybooks.ca and send me a message. Thanks!

[@navdhaliwal6952]

Could you please explain how do you reconcile bank feed after paying tax or getting a GST refund in the bank account? Thanks!

[@FixMyBooks]

In Quickbooks Online, you go to Taxes > Sales Tax > Select the tax period you filed your refund for > Record Refund :) You're welcome.

[@shubhamkansal8]

Hi, I have file T2 Corporate tax return and GST for year ending 2021. There is some amount which I need to pay to CRA on both T2 & GST. But in my CRA business account it shows amount owing is zero. Do i need to wait to show amount owing in CRA account before making payment to CRA ?

[@FixMyBooks]

Yes, you need to pay those amounts. Your CRA My Business Account just shows the amounts owing if you've filed your Tax Return and haven't paid. So if your Tax Returns have a balance owing, you need to pay your Corp Income Tax and HST based on the returns your accountant has done, you need to pay those amounts even if your CRA My Business Account says Zero owing.

[@shubhamkansal8]

@@FixMyBooks Thanks. For province tax how should I pay that. That doesn't shows in CRA account.

[@FixMyBooks]

@@shubhamkansal8 you have to pay it directly to the provincial tax authority example. BC PST gets paid to the BC Ministry of Finance.

[@shubhamkansal8]

@@FixMyBooks thank you

[@skariapothen3066]

What is the dead line for HST return for this year

[@FixMyBooks]

It depends on your filing schedule and filing period. You can check these in your CRA My Business Account.

[@apinkfanchannel5620]

How do u file provincial taxes of another province if u live in ontario and deal with b.c customer

[@FixMyBooks]

You have to open a Sales Tax account with the BC Ministry of Finance and register there. Then you can start charging BC PST. The Sales Tax for BC Customers is comprised of 5% GST + 7% BC PST = 12% Total Sales Tax. You remit the 5% to the CRA and the 7% to the BC Ministry of Finance.

[@shaemcleanxo]

Hi Arielle, do you have any recommended certification courses for people who are interested in getting certified in bookkeeping in Canada? Thank you!

[@FixMyBooks]

I have actually been asked about this so many times that I'm thinking of just making a video hahaha

[@shaemcleanxo]

​@@FixMyBooks Thank you!! It would be so helpful!

[@FixMyBooks]

@@shaemcleanxo No worries!

[@thebigd1294]

With an rrsp am I taxed on my profits or on my intial deposit, example if I invest 5k in an direct investing rrsp and make 2k profit, would I get taxed on the profit, initial amount or both

[@FixMyBooks]

Hi with RRSP's, you are not taxed on the initial deposit. The initial deposit actually lowers your taxes. The profit in your example of 2k will be taxed once you withdraw it from your RRSP account.

[@RoseAnneA]

Hi, i hope you can help me 🥺. Google payment sent an email regarding the gst/hst registration number. I don’t have that number. Should I register or not since I didn’t reach the 30,000 threshold tho 🤯

[@FixMyBooks]

You can register, it's optional if your sales are less than 30k and mandatory for sales more than 30k.

[@POWWOWDUDE]

I am in a very different situation then probably 99% of you. I am First Nations selling First Nations products to First Nations people. For example blankets. Beadwork, jewelry etc. as a First Nations member in Canada selling to First Nations people in Canada we are all tax exempt which means I don’t charge Gst or pst to any of my customers. Because I don’t pay tax I can not write off anything in my business period. Now what I want to know is when filing my taxes at the end of the year what income do I report to the government? Taxable income only? I don’t know. If so then that would be $0 as I don’t pay tax in Canada. Let’s see if anyone knows the answer to this one.

[@FixMyBooks]

Hi, We cannot give you personal advice on this channel. I would suggest talking to an accountant or calling up the CRA HST Rulings department, thanks!

[@POWWOWDUDE]

@@FixMyBooks we are in Saskatchewan we don’t pay HST

[@FixMyBooks]

@@POWWOWDUDE Yes it's called the GST/HST Rulings Department, you can still call them and ask for a ruling for your unique situation, thanks!

[@wilsongeorge2102]

Hi, Could you pls clarify my doubt? Sales $10000/- (without GST/HST). GST Collected - $1300/-. Total Sales $ 11300/- (including GST/HST). I would like to know what is the amount to be taken in Line 101 if I follow Regular Method to file GST/HST Return (i.e. $ 10000/- or $ 113000/-

[@FixMyBooks]

Hi, it will be Line 101 = $10,000 and then Line 103 = $1,300. Thank you.

[@Gymbig]

you want to come india

[@gulshanzahoor]

Add a good microphone next time. You sound too far away.

[@FixMyBooks]

Hi! There's an updated video with better audio: kzbin.info/www/bejne/g6W9iqGfrqaljJY Thanks!