Understanding GST/HST for Small Businesses
ਛੋਟੇ ਕਾਰੋਬਾਰਾਂ ਲਈ GST/HST ਨੂੰ ਸਮਝਣਾ
Everything you need to know about registering, collecting, and remitting GST/HST in British Columbia and Alberta.
- GST/HST registration required when revenues exceed $30,000
- You can voluntarily register before reaching the threshold
- Input Tax Credits let you recover GST/HST paid on business expenses
- Quarterly or annual filing options available
What is GST/HST?
GST (Goods and Services Tax) and HST (Harmonized Sales Tax) are consumption taxes charged on most goods and services sold in Canada. As a business owner, you collect these taxes from customers and remit them to CRA.
When Must You Register?
You must register for GST/HST when your business exceeds $30,000 in taxable revenues in any single calendar quarter or over four consecutive quarters.
Even if you're under $30,000, registering voluntarily lets you claim Input Tax Credits on business expenses—potentially putting money back in your pocket.
Input Tax Credits (ITCs)
When registered, you can claim back the GST/HST you pay on business purchases. This includes office supplies, equipment, professional services, and more.
Filing Options
- Annual filing (most small businesses)
- Quarterly filing (revenues over $1.5 million)
- Monthly filing (revenues over $6 million)
Need Help with GST/HST?
Tax Punjabi can help you register, file, and maximize your Input Tax Credits.