|
|
|
|
Legal Line® provides Free legal information to Canadians through its website, telephone and fax-on-demand systems.
1,000 topics are covered within 35 areas of law...
Search...
Ontario|Tax LawBusiness Taxes 189 Registering for Goods & Services Tax (GST) Generally, a business is only required to register for GST if they sell taxable goods or services, and if their total revenue from all sources is more than $30,000 annually. However, if your business is not registered and your revenues total more than $30,000 in any four consecutive quarters, you will usually be required to register for GST within one month. Some types of businesses do not have to register, regardless of their annual revenue. These businesses include: most health related services, day care services, financial services, tuition for educational programs, and services provided by charities that have annual revenues less than $175,000.
If you do not register you will still have to pay GST on your business expenses. However, you can usually recover the GST you pay to your suppliers or contractors by registering for GST.
There may be advantages to registering for GST even if your revenue is less than $30,000. For additional information on GST refer to other sections of Legal Line , or call Canada Revenue Agency at the number listed in the Blue pages of your telephone book.
|