To find out if you have to file your GST/HST return electronically using a method other than GST/HST NETFILE, see GST/HST Info Sheet GI-099, Builders and Electronic Filing Requirements. Due dates for filing a GST/HST return. A regular taxpayer under GST is required to file two monthly returns and one annual return. Goods and services tax (GST) Tāke mō ngā rawa me ngā ratonga Non-profits and charities Ngā umanga kore-huamoni me ngā umanga aroha IRD numbers Ngā tau IRD For more information, go to My Payment. If you want to offset the amount owing by the amount of a rebate that you are entitled to claim, tick yes on the rebate form and include it with your paper return when you send it to us. Line 112: Add line 110 and line 111, and enter the result on line 112. Complete Schedule C electronically if you are required to recapture ITCs for the provincial part of the HST on specified property and services, and you elected to use the estimation and reconciliation method to report them. Who remits the tax for a taxable sale of real property – Vendor or purchaser? In any case, send the purchasers’ rebate applications no later than the day you file your return. After we process your return and apply any interest and/or penalty charges, if an amount of $2 or less is owed to you, the amount will not be refunded. To help you prepare your GST/HST return, use the GST/HST Return Working Copy and keep it for your own records. Good and Services Tax (GST) or Harmonized Sales Tax (HST) is levied when you pay for most goods and services in Canada. Later that year, you receive a payment of $400 towards the debt. Start a free trial now to save yourself time and money! The form also includes a four-digit access code to file your return electronically. Enter the total of all adjustments. Line 111 (or line 1301): If you are required to complete Schedule A, rebate amounts could include: Some rebates can reduce or offset your amount owing. Line 111 will be calculated automatically based on the information you provided for line 1300 and line 1301 when you click "Calculate" at the bottom of Schedule A. It can be through your bank or credit union, your computer (NETFILE), filed by phone (TELEFILE), or via third-party softwaret… Your personal business information is pre-populated. You are completing a paper GST/HST return using the regular method. The most secure digital platform to get legally binding, electronically signed documents in just a few seconds. 275 Pope Road To find out if you must file electronically and which method you must use, see GST/HST Info Sheet GI-099, Builders and Electronic Filing Requirements. You are completing a paper GST/HST return using the regular method. C is the total amount of the sale, including GST/HST and applicable PST. amounts you paid or credited to the purchaser, such as: you purchased taxable real property or taxable supplies of emission allowances that are made in Canada, you are required to pay the tax directly to us, the use or supply of the real property or emission allowances in the course of your commercial activities will be more than 50%. Include the GST/HST you collected or were required to collect on … You are completing a paper GST/HST return using the quick method of accounting or the special quick method of accounting for public service bodies. before July 1, 2015, the recapture rate is 100%, on or after July 1, 2015 and before July 1, 2016, the recapture rate is 75%, on or after July 1, 2016 and before July 1, 2017, the recapture rate is 50%, on or after July 1, 2017 and before July 1, 2018, the recapture rate is 25%, on or after July 1, 2018, the recapture rate is 0%, before April 1, 2018, the recapture rate is 100%, on or after April 1, 2018 and before April 1, 2019, the recapture rate is 25%. You can recover GST of $14.60 as a tax adjustment on line 108 of your GST/HST return if you file electronically (or line 107 if you are filing a paper return). Also include in your calculations all rebate amounts that are included in the calculations for line 111, such as any GST/HST new residential rental property rebates that you are entitled to claim. If you provide a point-of-sale rebate on qualifying items, report the amount you paid or credited if you included the total HST collected or collectible (for example, 13% in Ontario) on. You will be asked if you want to report one or more of the following types of sales on your return: Reporting these sales will help us to properly calculate your reporting period threshold amount. Complete, The amount of a rebate you paid or credited to a non-resident for taxable installation services, as long as you submit, amounts from rebate applications that you have not sent with the return, pension entity rebate amounts shared with participating employers under an election made with a participating employer of a pension plan. If you provide a point-of-sale rebate on qualifying items, report one of the following amounts: Line 104: This line does not appear on an electronic return. The amount later proved to be uncollectible and you wrote it off as a bad debt. Complete this line if all of the following conditions apply: Enter the amount of the GST/HST due on the purchase of real property or emission allowances on this line. For more information, see Calculating your net tax using the quick method. Line 101: This line is populated based on what is entered on lines 90 and 91. Enter the total of all ITCs for the reporting period. If the bad debt is part of an amount that you have already included on your GST/HST return and you remitted that amount, you can recover the GST/HST as a tax adjustment on line 108 of your electronic return (or line 107 if you are filing a paper return). Do not include on this line any provincial transitional rebates that you are entitled to claim as the builder of new housing. If you are an individual with business income for income tax purposes and have a December 31 fiscal year-end, your return due date is June 15. If Schedule A does not apply, enter the total amount of GST/HST you were required to charge during this reporting period and any adjustments (for example, bad debts that you recovered) that increase your net tax for the reporting period. Your personalized return will indicate the due date at the top of the form. You are a registrant who imports a taxable supply for consumption, use, or supply less than 90% in your commercial activities and you have to, You are an international organization and internal use of a support resource or intangible resource occurs in Canada for a supply of a service or intangible personal property that was made outside Canada, but that is not exclusively (90% or more) for consumption, use, or supply in commercial activities, and you have to. If you’re using the regular method, you’ll need both the amounts collected from customers and paid on expenses. Line 107: If you are entitled to the 1% credit on the first $30,000 of your eligible supplies, enter the amount of the credit on line 107. See filing deadlines for the different filing periods: One month after the end of the reporting period. The GST/HST credit is a tax-free payment that is paid out quarterly to eligible individuals. Do not include the GST or HST (for example, in the case where the province has increased the provincial portion of its HST, the HST collectible at the old rate) that you are required to collect on these grandparented sales. In this case, although you will not complete line 103 and line 104, use the instructions for those lines to calculate the total you will enter on line 105 of the electronic return. Only include amounts that decrease the net tax for this reporting period. A pension entity that is entitled to a pension entity rebate can make the election to share a rebate by using Form RC4607, GST/HST Pension Entity Rebate Application and Election. Penalties - Fill out the form correctly and file on time The GST/HST and QST annual information returns must be carefully completed. Line 103: This line does not appear on an electronic return. You are completing a GST/HST return electronically. You can set up an agreement at My Business Account. Tax adjustment We will hold any GST/HST refund or rebate you are entitled to until we receive all outstanding returns and … Therefore, the participating employer should ensure that the same amount is included on line 108. Use the following formula to calculate this tax adjustment: A is the amount of the bad debt you recovered, B is the GST/HST payable for the supply to which the bad debt relates, C is the total amount of the sale, including GST/HST and applicable PST. You are completing a paper GST/HST return using the regular method. Before starting your GST/HST return, have all your numbers ready. Due Dates for Filing a GST/HST Return. [4] X Research source British Columbia charges a five percent tax rate. We can charge penalties and interest on any returns or amounts we have not received by the due date. Enter your total sales and other revenues (line 101) Line 103: Enter all GST/HST you were required to collect as well as all amounts of GST/HST collected on your supplies of property and services. See Who remits the tax for a taxable sale of real property – Vendor or purchaser?. Enter on line 1101 the total number of units that relate to the sales entered on line 1100. You must file your GST/HST return on the due date, which is determined by your reporting period. Enter on line 1401 the total of your gross recaptured ITCs next to the applicable recapture rate for each province with a recapture requirement. 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