At Incorporation Entreprise Inc.
We help you in the steps of creating your tax bills.
The GST (federal taxes) and the QST (provincial taxes) are consumption taxes, which merchants must collect when selling one of their services or products sold in Quebec. If your business expects to have an annual turnover of more than $30,000, it is mandatory to register your business for GST/QST.
Return of GST/QST taxes
A legal entity that registers for the GST/HST and QST files can generally obtain input tax refunds and credits. An input, defined in this case by a product or service acquired from a company, in the course of its professional activities.
Credits and refunds can be claimed at the time you file your tax returns.
In addition, some so-called public enterprises, such as charities, may obtain a partial return of the GST and QST on goods and services they have obtained, but for which they have not been able to receive a credit or refund of the goods or services tax. Our advisors are here to help you create tax bills and optimize returns.
Who are these services for?
The concepts of collecting GST and QST taxes with Revenu Québec generally concern entrepreneurs, individuals, corporations or any person who carries on a commercial activity. Thus, there are 3 reasons why you need to register.
1st reason: If all of your taxable supplies and services exceed $30,000 in a quarter or for all four quarters of the year, you are required to obtain a tax bill.
Reason 2: If you have a transport service (e.g. taxi or limousine) to register.
3rd reason: If you have to charge admission fees to the public for special events that take place in Quebec before registering. The commercial activities taken into account include the sale of tobacco products, the sale of fuel, the sale of alcoholic beverages, the sale or even the rental of road vehicles, the sale or rental of new tires, etc. However, it is imperative to register for the QST in advance and already collect the tax if you may be engaged in one of these activities in Quebec, and specifically in Montreal.
When do I need to register?
First of all, you must register for the QST before making your first taxable supply. After this registration, you will collect your account number. It is only after registering for the QST that you will be able to switch to the GST. It should be noted that registration for the GST must be made before the 30th day following the day you made your first taxable supply in Canada. As soon as you register, you will benefit directly from your winnings.
However, when you register, you will be asked for some important information. This is your Social Insurance Number (SIN), your Québec business number from the Registraire des entreprises and the business name of your business if you have one. The main business activity of the business, the secondary activities, the start date of its activities, the total taxable sales that the company wishes to make in Canada in the next 12 months are all elements that you must provide. You must also provide your home address, telephone number and correspondence address.
You also have the option to apply for a third party without a power of attorney. For this purpose, it is sufficient to supplement certain documents with confidential information. We are at your disposal to enlighten you in these administrative procedures, for your company.