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| *The Commerce Journal>>>Canada Taxes |
GST for incorporation and sole proprietorship? |
For a contract job(computer software service) in BC province, there is an employment agency told me that if my business is sole proprietorship, they will pay me rate + GST; If my business is incorporation, they do not have to pay GST. Is that right? Any related website? Thanks This depends on whether or not you are registered for the GST. If you have annual sales of greater than $30,000 then you are required to register for GST, charge GST on your sales, and remit this to the government. But if you are not yet registered for GST then you should not be charging it until such time as you obtain a GST registration number. Even if your annual sales are less than $30,000 you may wish to register in any case, as you will then be able to deduct the GST you pay on your business expenses from the GST you remit to the government. For more information see the Canada Revenue Agency's GST page: http://www.cra-arc.gc.ca/tax/business/to... That is incorrect. If you are a registrant, and are providing a service that is taxable for GST, your legal entity status has no bearing whatsoever on whether they pay GST. What does have an impact is if you are a registrant (or are supposed to be a registrant based on the income). GST registrants collect GST and send it, minus the GST they pay on their expenses, to CRA. A complete range of GST information can be found here: http://www.cra-arc.gc.ca/tax/business/to... CRA website Experience with GST and GST related questions |
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