If you're just starting out, we can help you decide whether you need to be HST registered from the outset or not. And we will continue to monitor your situation, so that should it become obligatory for you to register for HST, we can deal with all of the paperwork for you. In contrast, we will also monitor your position for when we think you are able to and would benefit from deregistering.
Whether a new or existing business, we will also look at the HST schemes you are eligible for and establish whether you would be better off adopting one or a mixture of them. Some HST schemes can lead to tax savings and a reduction in bookkeeping responsibilities.
Your local TaxAssist Accountant can prepare your HST return; either from your own bookkeeping records or we can take care of your record keeping and the HST return. And we will try to ensure that you claim as much HST as possible; particularly on contentious items such as mixed-use expenditure and motor running costs.
As with other areas of tax, we can act as your Agent for HST purposes and therefore correspond with CRA or your behalf. Paper HST returns are pretty scarce now but our software also allows us to file your HST returns online with CRA.
Needless to say, late HST registration, errors, late HST returns and late HST payments can all lead to penalties and possibly interest being charged. So allowing your TaxAssist Accountant to take care of your HST affairs, not only gives you peace of mind, but it should also avoid you wasting your hard-earned cash on penalties and interest.