GST/HST filing for Ontario businesses
In Ontario, the harmonized sales tax (HST) is 13%. Once your business is registered, you charge HST on taxable sales, claim input tax credits (ITCs) for the HST you pay on business purchases, and file regular returns with the CRA. Quartax handles the whole cycle for sole proprietors and corporations in Mississauga.
Do you need to register for HST?
You must register once your taxable sales are more than $30,000 in a single calendar quarter, or over the last four consecutive calendar quarters. Below that you are a small supplier, and registering is optional. Taxi and rideshare drivers must register from their first fare, whatever their income.
Registering voluntarily can make sense if you sell mostly to other businesses, because you can then recover the HST you pay on expenses. We look at your situation and tell you which option fits.
What our HST services include
- HST registration and your GST/HST program account under your business number
- GST/HST returns prepared and filed monthly, quarterly or annually
- Input tax credit review, so you do not pay more HST than you owe
- Quick Method elections where they save you money
- Catch-up filings for missed periods
- Support with CRA reviews when the CRA asks for the receipts behind your ITCs
HST filing frequency and deadlines
| Annual taxable sales | Assigned filing frequency |
|---|---|
| $1.5 million or less | Annual (you can choose quarterly or monthly) |
| Over $1.5 million, up to $6 million | Quarterly (you can choose monthly) |
| Over $6 million | Monthly |
Monthly and quarterly returns are due one month after the end of the period. Annual returns are generally due three months after your fiscal year end. Individuals with business income and a December 31 year end have until June 15 to file, but any HST owing is due by April 30.
The Quick Method of accounting
Many businesses with annual taxable sales of $400,000 or less can use the Quick Method, which works out the HST you remit as a set percentage of your sales instead of tracking every input tax credit. For many service businesses it means less paperwork and sometimes less tax. We run the numbers both ways before you elect.
Keep your records HST-ready
Good HST returns start with good books. Our bookkeeping service tracks HST on every sale and purchase, so your return is quick to prepare and easy to support if the CRA asks.