1 / 3

Section 5: GST and Provincial Taxes General Rules

Section 5: GST and Provincial Taxes General Rules Most of the sales are exonerated (non-taxable), You can demand a partial refund (50%) of the GST that you have paid for purchases and admissible expenses

veata
Télécharger la présentation

Section 5: GST and Provincial Taxes General Rules

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Section 5: GST and Provincial Taxes General Rules • Most of the sales are exonerated (non-taxable), • You can demand a partial refund (50%) of the GST that you have paid for purchases and admissible expenses • For Provinces with HST, you may be able to claim back part of the provincial tax portion of the HST (RC7066-SCH)

  2. Admissible Expenses: • General fees of exploitation (rent, public services, administration fees) • Certain allocations and refunds paid to employees or voluntaries • Goods or services bought that are used, consummated or furnished for your exonerated activities Non- Admissible Expenses: • Alcoholic beverages and tobacco products

  3. Refund demands • Requests for GST rebates can go back up to 4 years. • Claims for tax refunds are normally done annually • Forms (click to open): GST Rebate: GST-66 (first time), GST-284 sent by CRA after that. Provincial Rebate: RC7066-SCH form • Amounts for these rebates are calculated by the ACC-9

More Related