If your business earns more than $30,000 in a single calendar quarter or over four consecutive quarters, you\’re required to register for and collect HST. Here\’s what small business owners need to know.
Registering for HST
Once you cross the small supplier threshold, you must register within 29 days. You can register online, by phone, or by mail through the CRA.
Filing Frequency
Depending on your revenue, you\’ll file monthly, quarterly, or annually. Higher-revenue businesses are generally required to file more frequently.
Input Tax Credits
You can generally claim back the HST you paid on business expenses as an input tax credit, reducing the net amount you owe. Keeping organized receipts makes this significantly easier at filing time.
We handle HST registration and filing for clients as part of our small business service — reach out if you\’re not sure where you stand.