How to File Your GST/HST Return Online
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- เผยแพร่เมื่อ 1 ก.ค. 2024
- In this video tutorial, I show you exactly how to file your GST/HST return online to the CRA (and pay it). It's actually a super simple process, but can be intimidating if you've never done it before. That's why I wanted to show you how I do it.
The key things to remember is it's super important to keep organized with your accounting. That could mean using a spreadsheet or using accounting software (I show you my Freshbooks account), or both.
Then, really the only info you need in order to file your GST/HST return is your total business revenue (from within Canada and outside of Canada) not including GST/HST. Then the total amount of GST/HST you've collected on top of that business revenue. Then the total amount of GST/HST you've paid on business expenses that can be used for input tax credits. You would do this for your particular reporting period, for me it's quarterly, but for you, it might be annually or monthly.
Once you've done it a few times, you'll realize how easy it is. If you have any questions, make sure to leave them in the comments!
RESOURCES
➡️ Sales Tax in Canada (HST, GST, PST) When You’re Self-Employed jessicamoorhouse.com/sales-ta...
➡️ Self-Employed Taxes in Canada: How Much to Set Aside for CPP, EI & Income Tax jessicamoorhouse.com/self-emp...
➡️ Try Freshbooks 30-Day FREE Trial bit.ly/3lDehBy
➡️ GST/HST Working Copy www.canada.ca/content/dam/cra...
CHAPTERS
00:00 Introduction
00:57 Accounting Software
3:00 Sales Tax Summary
8:24 GST/HST Return Working Copy
11:31 Logging into Your CRA My Business Account
11:54 Steps to Filing Your GST/HST Return
15:58 Confirming Your GST/HST Return & How to Pay
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ABOUT ME
I'm Jessica Moorhouse, a money expert, Accredited Financial Counsellor Canada, speaker, blogger, TH-camr, and host of the More Money Podcast. I'm based out of Toronto, ON, Canada and turned my personal finance blogging side hustle into my full-time business so I could spend all my time teaching others how they can take control of their lives by taking control of their money. To learn more, check out my website jessicamoorhouse.com
#gst #hst #salestax #filegsthst
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DISCLAIMER & DISCLOSURE
The content I produce is for education and entertainment purposes only. Nothing on this TH-cam channel, my website or affiliated channels should be considered financial, investment or legal advice, or an endorsement for any type of service, product, or brand. Some links in this description may be affiliate links in which I may earn a commission at no extra cost to you. Please read my disclaimer to learn more: jessicamoorhouse.com/disclaimer/
This was more helpful than I thought possible! Very thorough explanation!!! Thanks so much! Subscribed!
I'm so glad you found it helpful and thanks for the subscribe!
Thank you so much for your video! So easy to follow, and it's simplicity is only matched by how thorough the information is. Can't thank you enough!!!
Thank you!
Thank you! This is the first year I've filed it on my own and this made it so clear and easy!
Yay I'm so glad!
Thank you! This helped get a better understanding of how to file my first GST return. Glad that I found your channel!
I’m so glad it was helpful!
This is soooo helpful! I just started my corporation and have to file monthly (for some reason, although I don't make over 1.5M not even close lol). I was panicing but it seems super easy. Thanks a lot!
I'm so glad you found this video helpful!
You are such a lifesaver! About to file my first return!! I found the vid on the govt website so dry and I just knew you'd have something on this.
Ya as helpful as the government website can be it's sometimes not the easiest to read. Glad this video could help!
This was sssooo helpful, clear and concise and no fluff. thank you!
I'm so glad! Thanks for watching!
This is perfect, I will be completing this task for my wife's business and now I know how to! Thanks so much! Subbed and Liked.
Thank you!
Thank you so much for this video! Submitted my first HST return. Couldn't have done it without you!
Yay! Glad I could help!
Thank you, Thank you! Your videos are so concise, and truly not intimidating at all! While I am doing this for my husband's small business (I came across your video in google) I will be sure to peruse all your content as I work towards setting up my own small business. Thank you again and look forward to seeing more of your videos in the future.
Yay, I'm so glad! That's all I ever want to do, make complex-seeming things simple. :)
This was super helpful thank you! And your energy was fantastic as well!!
Thanks so much, glad you found it helpful!
Thank you for making this video, the HST return process now seems doable!
Yay, so glad I made it easy for you!
This is exactly what I needed, I am just as visual as you. Thank you so much Jessica!
You're so welcome!
The lack of information out there is wild. You said it!
Yup!
Maybe one day I won't forget everything in the time between remittances, but until then, I really enjoy our time together every three months :) Thank you for making this video!
Haha I actually love that (and ps, I've even gone back to the video for visual reminder of the steps lol).
This is exactly what I do too
@@ashleighmcnary1321 Just rewatched this week :)
Thank you so much for this video. You are right, there is barely information out there about filing your taxes in Canada. We need more videos like this!
Thanks Geoff!
Yes please!!!!!!
Thank you!! Super helpful as I am going through this process for the first time.
This is awesome.! thank you so much, Jessica. I wish you a bright future 👌
Thank you! You too!
Thank you so much for this!! I just found your channel, Definitely going to be watching all of your videos!
Thank you! So glad you like my channel!
Thank you SO much for this!! Helped a TON
I'm so glad!
Thank you very much. This took a huge burden of stress off my head lol.
I also loved the expression of your personality. Made the content easier to get through and digest, somehow. 😊
Thanks so much! And glad I was able to make filing and paying your GST/HST somewhat entertaining since it's a pretty dry topic haha
I followed your instruction and filled GST/HST return. It was very clear and I am looking forward to do all my returns. :)
That's great to hear! Glad I made the process a bit easier!
super super helpful, THANK YOU for explaining so well
I'm so glad you found it helpful! Thanks for the comment!
Jessica...thank you so very much! Very simple and informative. Appreciate it
Happy to help!
Thank you for making a video on this, first time submitting a return and this was extremely helpful
Yay I'm glad it was helpful!
Thank you Jessica! This is extremely helpful.
I'm so glad and thanks for the comment!
amazing!! thank u so much for taking the time to make this video!
You're welcome!
This is great. Really appreciate the detailed guidance!
You're so welcome!
You're right. There really isn't any clear information on this - appreciated the step-by-step.
Glad you found it helpful!
Iam from India. Want to learn about Canada
Thanks very much, I was looking for this information when I started my business, and couldn't find anything....you've been a great help!!!
So glad you found my video helpful!
Great information and walk through, clear steps A-Z. Thanks for sharing and posting!
Thank you!
Thank you so much! This was super helpful as I was absolutely terrified to do this wrong
Happy I could help and make the process less scary :)
You are life saver! This video is exactly what I needed. Thank you thank you!
Glad it helped!
This was tremendously helpful, thank you!!
You're welcome!
Jessica, you are a life saver. Thank you so much for your videos.
Happy to help with my tutorial! :)
Thank you Jessica for this very easy to follow video. It was much appreciated. Best regards.
Thanks so much, glad you found it helpful!
Totally awesome thank you for this been trying to figure it out on my own and t his was incredibly helpful
Glad it helped!
I am sooooo grateful for you and these videos you make! I started a dog grooming business with next to no business knowledge and thanks to you I have been able to figure this stuff out without any tears! lol Wishing you all the success!
That makes me so happy!
This was really helpful, saved me time from calling the CRA call centre. Thanks
I'm so glad!
Thank you for making this video! It’s really helped me figure out this new business. You found yourself a new subscriber.
Amazing, thanks and happy I could help!
Thank you sooo much and this is very helpful for first time GST filers! I did a lot of googling and couldn't find useful result on How to file (most of stuff is about how to calculate with either the quick or regular method). Hope this can help as many people as it can as I'm sure a lot people are confused for the first time. Thanksss again for the great content!
Thanks Alex!
This is a really helpful video. Thank you so much for putting it together.
You're so welcome!
omg thank you I have been looking for this. you're an angel!
Happy to help!
This is so helpful! Thank you so much :)
You're so welcome!
Thank you Jessica for your videos. This one was especially necessary.
I'm so glad!
Very good, it is helpful. this is my first learning File your GST/HST. thank you
You're welcome!
Thanks Jessica, so helpful!
I'm so glad!
Very helpful and awesome way of presenting the hardest topic in simplest way.
Thank you!
This is so amazing!! So for the quick method - would I pay 8.8% instead of 13%, and not claim the HST on my expense?
Hi Jessica! Your video was so helpful. Thank you for the great content, we totally subscribed! This is the first time we will be filing GST and our registration letter from the CRA indicates that our first reporting period is May 24, 2023 to Dec 31, 2023. When we fill out line 101 should it be for total sales for the reporting period only (so essentially from when we started collecting GST) or for the full year (Jan 1 to Dec 31). Thank you!
Thank you so much for making this video. Definitely coming back to this.
Awesome, happy you found it helpful!
Thanks Jessica for providing knowledge
You're so welcome!
This is incredibly helpful! Thank you so much! ❤
I'm so glad!
You are are a saint. Thank you!
Omg so glad I could help!
Very seamless, Thanks a lot
Thank you!
thank you so much for this video. You saved me a lot of time and money.
I'm so glad!
wow thanks jessica, that just saved me from tax fraud.
Well that's good to hear haha
So very helpful!! Can't thank you enough
Awesome! Happy to help!
Jessica... thank you SO MUCH for this video. It's genuinely helped me understand this process better than anything I've read or any of my calls to the CRA. Could you explain how you report your US revenue? Is it just in line 101 but untaxed?
Correct! You would include that in line 101 where you are to report all your business revenue. A more detailed explanation can be found here: www.welchllp.com/blog/line-101-gst-hst-return/
This information was excellent. Thanks for your help🎉
Thanks!
You saved me a trip to an accountant, thanks!
You're welcome (though I'm a big fan of using an accountant when needed haha!)
Thank you! This video was super helpful ❤
You're welcome!
Hey Thanks a Bunch for this video! You rock 😎
Thank you! And thanks for watching!
Amazing. Thank you for the information provided.
You're so welcome!
Very Helpful, Thanks Jess
Glad it was helpful!
Jessica, your videos are so helpful! Here's a question: Since you can only claim the business portion on your taxes if you have expenses that are both personal & business such as gas receipts, hydro, cell phone can you only claim a portion of the GST/HST as ITC's on your GST/HST return?
You should claim the ITCs on business portion of expenses as well
You are the queen of Canadian Tax !
Haha well thanks!
Your the best. Great tutorial
Thanks so much!
Super helpful, thank you for this
You're welcome!
Super helpful! Not sure if you have a video covering Wave Accounting. Thanks Jessica.
I don't but I've heard good things from some users. I've never tried it myself.
Thank you. So much value in this video 🙌
I'm so glad!
Thank you so much!! I was ready to throw my computer by the window lol! Seriously thank you!!
Happy I could help!
This is really helpful video.thanks a lot dear.
Glad I could help!
OMG, it was a big monster until I saw your video. Thank you
Glad I could help!
Thank you very much. Your video is really helpful!
Glad you found it helpful!
As you mentioned, this is the first video where i have seen how to pay GST/HST using CRA Canada. Very very useful and thank for you for making this video. I was struggling to get this information from few months and this video made it possible. Thank you so much. :)
If you don't mind can you share
1. How to file Corporate tax in Ontario?
2. How to move money from Business account to Personal account at the end of the year?
Thanks so much! For your two questions, I'd seek the advice for a CPA to help you.
you are fuckin awesome. I'm so tired of Bob Hamilton trying to confuse everyone. And you just answered all my questions within minutes. thank you
Cool! Glad you found the video helpful!
You are a star! Cheers,
Well thank you very much! :)
You are a lifesaver!!! Thank you so much!! 8)
Happy to help!
Very very useful information
Glad you found it helpful!
Thanks so much for this video! So helpful
You're welcome!
Awesome!
Very helpful video thank you!!
Glad it was helpful!
Love this! Please make videos about entrepreneurship. I am an entrepreneur that has business in onyario but live in Quebec. entrepreneurship is getting quite hard and i am thinking of quitting and going back to a 9-5. However, with chanels like yours give me a light through the tunnel.
WOW thank you Jessica!! How little info is out there is abysmal!
You'd think the government would wanna make it easier for small businesses that contribute to the economy 🤦🏻♀️
Agreed, although the CRA's website much better than it used to be haha.
so thankful for this video🙂
You're welcome!
Awesome!
Quick question. I saw your part about the nill part of the video. If I made nothing and did nothing with the business in 2023 I would send the returning document with all 0's? Thank you!
Thankyou for this!!
You're welcome!
why wouldn't the government have a great tutorial like this ?? Thank you so much !!!
I mean, it's the government haha
@@jessicamoorhouse touché
Such a good video! Thank youuu
You're so welcome!
Thank you for the information. You are the best 👌 💓 ❤
You're welcome 😊
Deductions can only be done when file GST? or also can be claimed when filing you taxes every year if you didn't at the moment you file GST?
Hi, Jessica! Inside Freshbook that Expense figure is included with both COGS + Expense (overhead), I think. Can you plz confirm what is the regulation in Canada while doing GST/HST return only COGS or both?
Thank you for this!!
You're so welcome!
Hey Jessica do you have a video or blog post talking about how you sort out taxes for clients in places like BC and Manitoba where it’s two different taxes you have to charge? I’m from Ontario with a new Manitoba client and so confused because I have a GST/HST and have charged them 5% but didn’t know I have to register for RST and charge them 7%... do I have to pass a certain threshold to register for RST? Or PST for my new BC client?
Great questions! I'm definitely planning on making another video/blog post specifically on clearing up provincial sales tax, so let me get back to you!
Hello Jessica, Thank you so much for this video.. Question: Could you please tell me how to change my HST from Quarterly to Yearly?
There's more info here about how to make the request, but basically you log into your CRA My Business Account and file an election quickbooks.intuit.com/ca/resources/taxes/how-when-change-gst-reporting-period/
Should I get (and learn) some software? I only send out about 30 bills per year amounting to about 100k. It's quite easy to keep track of on excel spreadsheet I made, except I don't bother to check my accumulated through the year. Some months are zero, some are 30k. I use the quick method. Do I have to report accurate sales for each quarter? What is the deadline for each quarter? What do you suggest?
if anyone gets the error "the dates you entered for your reporting period are not valid for your account", just login to CRA my business and check the hst section for your reporting periods and grab the correct dates from there
Thanks a new suscriptora thanks a lot I am going to do my certification exam QB, I am tax manager in Mexico and the taxes are very complicated ...
Good luck on your certification exam!
@@jessicamoorhouse thanks 😊 🙏 I get it , now I am looking a tax firm that required a practicing bookkeeper remotely , I know anybody needs one but maybe I could be possible I only want to learn ... could you give me one idea where I can get an internship in Canada ? To practice bookkeeping activities here in Mexico I am accountant with 10 years of experience but To emigrate I need to learn the canadian system to get a job... Thanks by your suggestions and advice I appreciate so much 🇲🇽🙏😊🇨🇦🇨🇦
Thanks for the video.
When you said businesses expenses gst, is this included gst from buying business office supplies like work desk, printer..ect.?
It's the GST that you pay on business expenses that you could report as input tax credits. So if you bought something for $100 plus 5% GST ($5), paying a total of $105, when filing your GST you could input that $5 as a credit towards any GST you collected from your customers and remitted to the government. More info about ITCs can be found here www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4022/general-information-gst-hst-registrants.html
So much help 🙏🏿
Thank you, glad you found it helpful!