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First you need to determine your reporting period. CRA assigned you different reporting period according to how much your business earn “last year”. Yes, it is an estimate. e.g. If the first year in business earn over $1.5 Million, then CRA will come after you this year Quarterly for your GST / HST payment for [...]
Quickbook has the ability to generate an exact report as the Sales Tax form required to file your sales tax. In this example I will use the Ontario sales tax GST. According to your company address when you set up your company, Quickbook detemines what tax accounts to set up, what sales taxes are applied [...]
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