Sales Tax

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Can My Business Benefit From Collecting GST/HST?

Yes, if you collect taxes on behalf of the government, any GST/HST you pay can be refunded on eligible items. Sales tax paid on business expenses do not represent the true cost. Envolta makes sure their clients know about the advantages and we work so you can leverage every advantage.

What Records Do Businesses Need To Keep?

You must keep any records that support the information when you submit an GST/HST return.  

  • The amount of GST/HST you collected.

  • The amount of GST/HST you paid on expenses and purchases.

Envolta has software that gives business owners up to date information. When it comes to monthly, quarterly or annual GST/HST remittance we make it easy for business owners to keep their GST/HST accounts in good standing.

Does Your Small Business Have To Remit Gst/Hst?

If your entity earns more than $30,000 in any given year you are required to collect and remit GST/HST on behalf of the government. Envolta helps set up accounting practices to help you track, manage and remit the GST/HST you owe, avoid penalties and interest, or claim your refund.  

“I didn’t know I had to charge GST/HST?” –  We see it all the time.

Businesses aren’t even aware their over the $30,000 mark thanks to disorganized accounting and bookkeeping. Companies who reach out to Envolta before, during or after planning for sales tax are always in a better position.  

What If I Can’t Pay In Full?

This isn’t a position any business wants to find itself in. Ignoring debts will not make them go away and CRA charges compounded daily interest on your debt until it is paid in full. The best way to avoid this is by having a team of accountants on your side. This nightmare is avoidable, Envolta helps provide the accounting tools so you don’t end up in this boat.

What Happens If I Don’t Remit The Sales Tax?

Failing to charge GST/HST on goods and services is a violation of Canadian tax law. Even if you haven’t charged the GST/HST to your clients and customers CRA will expect to be paid the GST/HST. CRA is entitled to seize assets, garnish income and pursue criminal prosecution. Having a team like Envolta on your side all but guarantees you avoid these situations.

Cash Flow Problems?  Don’t Spend The Gst/Hst!

Many businesses run into cash flow problems at some point in time. With the best intentions some might dip into your GST/HST account for a quick fix, but there are better ways of solving cash flow problems. Envolta believes having a plan, knowing your numbers and working towards cash positivity is a better solution. We work with you to establish good accounting practices so you won’t run into this problem. Never spend your chickens before they’ve hatched 😉

Envolta takes the mystery out of sales tax.

Charities, e-Commerce, products and inter-provincial sales… with so many different entities it’s understandable you might have a few questions. We are the sales tax experts. Let us focus on the numbers so you can focus on growing your business.

Book a call today and let us teach you best practices for collecting and paying sales tax in Canada.