As a business owner in Canada, you must be aware of your obligations related to the GST, also known as the Good and Services Tax. The GST is a consumption sales tax meaning that the person who is buying the product has to pay the tax rather than the seller paying it. The party buying a service or good subjected to this tax must therefore, pay in on each affected transaction.
This GST tax is also a form of percentage consumption tax, meaning that the total amount of tax charged depends on the cost of the service or good in question prior to taxes. Although the consumer has to pay the GST tax, that money must then be remitted to the government by the seller. The GST is applied to many services and goods changing hands between businesses, organizations, and individuals, although some items are exempted.
Since it is the responsibility of the seller in order to account for this sales tax, knowing how much to collect and how it must be remitted are crucial. The insight of an attorney can make a big difference in managing this information. An attorney can also be helpful if there are audits or objections surrounding the GST, since an attorney can review your records and ensure that you have everything in order in the event that you need to defend yourself to the CRA. A lawyer’s knowledge about this process can make things much easier for you and give you confidence that you’re prepared if a problem does emerge.
For more information please visit:goodservicetax.com
Nathaniel completed his Juris Doctor degree at Osgoode Hall Law School where he excelled in the areas of tax law and legal writing and research.He successfully completed all of the requirements of Osgoode’s Taxation Law Curricular Stream
Carson Pillar articled with us and then joined our tax law firm as an associate Canadian tax lawyer having been called to the Ontario bar in June 2016. Carson runs our Calgary tax office. Carson earned his Juris Doctor from Western University and graduated in 2015.
Ian Thomas joined our Toronto tax law firm as an articling student (student at law) in July 2016 and upon becoming a Canadian tax lawyer in June 2017 he becomes our latest tax associate. Ian earned his Juris Doctor from Osgoode Hall Law School and graduated in 2016.
Tigra Bailey has now joined our tax law firm as a summer tax law student and is expected to return as an Articling Student in 2017-2018. Tigra is completing her Juris Doctor at Queen’s University and her expected graduation date is in 2017.
Ildi has joined the law firm of Rotfleisch & Samulovitch PC in June, 2000 and brings over 25 years of legal secretarial experience to the firm. She started as a Legal Secretary and after obtaining Certificates from The Institute of Law Clerks of Ontario
Jamin Chen joins our tax law firm as an articling student in September 2016 after earning his Juris Doctor from Allard Hall at the University of British Columbia.