How to File a GST Return
Filing a Goods and Services Tax return, also known as a Harmonized Sales Tax return, in Canada is a process that is important for anyone who owes GST or HST revenue to the government. The process of filing this tax is broken into various periods, and you will have to file your tax return based on the revenue that you have gained during these periods if you want to remain in compliance with the law. There are a number of important steps to take to ensure that your filing goes as planned and that you are not subject to any late fees or other penalties for improperly or incompletely filing for your Goods and Services Tax return.
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Instructions
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Determine your filing obligation. Any business that has a gross income of over 1.5 million dollars per year must file electronically, except for certain charities. Builders and other contractors must also file for their GST return each year. The period under which any business that is required to pay GST or HST taxes must file is determined by the government and assigned according to your income, net sales, expected business volume and type of business, and other factors. Essentially, anyone who operates a business must file for GST returns.
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Complete the required forms at the Canadian government home page at CRC-ARC. You must file your GST or HST return electronically for any taxable period that begins after July 1st, 2010. There are no more paper filings allowed by the Canadian government, except in special circumstances. You can file online by visiting the CRC- ARC home page and following the steps to file online from there, or you may still have a tax preparer write up the documents and file online for you. The steps include inputting identifying details about your business and income.
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Pay your bill. There are a number of ways to pay the amount of your GST that is due once you have filed your return and established what you owe. You may pay the GST electronically through a direct deposit or direct debit to the government; you may also pay your bill by mail, remitting a check or other method of payment to the government in this way. You can also choose to pay your GST by visiting your local bank or other financial office and arranging payment through them.
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