GST/HST Filing Mississauga
Farrukh Ahmed’s Accounting Firm was Established in 1993 and over the past 27+ years we’ve helped thousands of individuals and small businesses with GST filing and HST filing. If you need tax help or have questions about the process for filing your GST / HST know that we’re here to help. Call us today for free consultation.
Reputable Mississauga Accounting Firm
Farrukh Ahmed, CPA has been providing tax preparation services to people in Mississauga and Brampton for over 27+ years.
GST / HST Return Filing
Let us help save you time and reduce the stress of preparing GST or HST returns. We can help you with bookkeeping and filing to avoid potential CRA Audit.
Chartered Professional Accountant.
Get the confidence of being back by a competent and reliable CPA. We provide on-going advice to help minimize your tax liability for the coming year. Open line for tax consultation for clients whenever you have questions.
Farrukh Ahmed, CPA > Tax Services Mississauga > GST / HST Filing Mississauga
Farrukh’s Tax Tip – Massive Wealth Creation
Paying taxes are necessary for a functioning society, but if we’re just talking about individual wealth creation paying more tax then you have to hurts. Many people are surprised to realize that there are certain income sources that are completely tax exempt. For example, Income generated from a Tax Free Savings Account (TFSA) or profit from the sale of a person’s principal residence. You can further reinvest the capital generated from TFSA to generate some serious wealth.
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Chartered Professional Accountant.
What is GST/HST Filing
If your business has generated revenue in excess of $30,000 in four consecutive quarters then you have to register for a GST/HST number and start collecting sales tax on your products and services sold. The amount collected from GST (goods and services tax) and HST (harmonized sales tax) are then remitted back to the government.
When do I have to pay GST/HST:
The CRA assumes you will pay GST/HST at least once a year. However, you may want to opt into paying quarterly to keep budgeting on track so it doesn’t surprise you all at once at the end of year. As a sole proprietor the deadline for filing GST/HST usually coincides with the filing of your personal income tax return.
What is exempt from HST?
There are certain businesses and services that are considered exempt from having to collect and pay GST/HST. These include child care services, educational services like music lessons, and any business that’s considered a small supplier. A small supplier is defined by the CRA as sole proprietor, corporation, or partnership that generates revenues less than $30,000 annually.
GST / HST Filing Service Areas:
Let’s us manage bookkeeping and filing of your GST/HST. We’ll make sure it’s done right and on time to avoid any penalty. Our office is located in Mississauga but we can remotely service all of Greater Toronto Area including Brampton, Oakville, and Toronto.
GST HST Rate By Province:
| Canada’s Province | Rate type (HST, GST, PST) | Provincial rate | Canada rate | Total |
|---|---|---|---|---|
| Alberta | GST | 0% | 5% | 5% |
| British Columbia (BC) | GST+PST | 7% | 5% | 12% |
| Manitoba | GST+PST | 7% | 5% | 12% |
| New-Brunswick | HST | 10% | 5% | 15% |
| Newfoundland and Labrador | HST | 10% | 5% | 15% |
| Northwest Territories | GST | 0% | 5% | 5% |
| Nova Scotia | HST | 10% | 5% | 15% |
| Nunavut | GST | 0% | 5% | 5% |
| Ontario | HST | 8% | 5% | 13% |
| Prince Edward Island (PEI) | HST | 10% | 5% | 15% |
| Québec | GST + QST | 9.975% | 5% | 14.975% |
| Saskatchewan | GST + PST | 6% | 5% | 11% |
| Yukon | GST | 0% | 5% | 5% |
Farrukh has been my accountant for at least the last twenty years. He has done an excellent job of assisting me in managing both my business and personal finances. His work has always been accurate and timely. His guidance over the years has been most instrumental in my success. Perhaps most important, he is always willing to answer my questions and provide guidance in a caring and pleasant manner. He genuinely cares.
Why Us?
There’s a notable difference in hiring a new or inexperienced accountant versus one that’s been in the game for 27+ years. I’ve worked as CRA auditor for few years early in my career. Currently teaching tax software to students at Sheridan college, and am a certified professional accountant. This is not to brag but to give you the confidence to realize that you’re in good hands.