We received the first HST payment but we got a notice of an error. Will we still get our next HST payment?
Can you refile HST?
You can also send a letter to your tax centre indicating your GST/HST business number, the GST/HST reporting period to be amended and the corrected amounts per line number on your GST/HST return.
What is GST HST credit notice?
The goods and services tax/harmonized sales tax (GST/HST) credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset the GST or HST that they pay. It may also include payments from provincial and territorial programs.
What does it mean when the CRA sends you a notice of assessment?
Your notice of assessment (NOA) is an evaluation of your tax return that the Canada Revenue Agency sends you every year after you file your tax return. Your NOA includes the date we checked your tax return, and the details about how much you may owe, or get as a refund or credit.
Do you have to pay back HST?
If you have a quarterly reporting period, you have to file your GST/HST return and remit any amount owing no later than one month after the end of your reporting period. If your revenues are more than $6,000,000 you are required to report monthly.
How do I correct HST filing?
If you’ve made an error in your HST filing, you will need to correct your HST return. You can do so by writing a letter to the CRA stating the corrections and the line numbers that needs to be corrected. Please note that you should not refile an HST return.
Can you amend an HST return online?
Most changes can be made either through the online service: My Business Account, if you are registered for this service, or by sending a letter to your tax centre. You will need to send a letter to your tax centre following the guidelines above.
Why do I owe GST HST credit?
The CRA will also apply GST/HST credit payments to amounts owing for income tax balances or amounts owing to other federal or provincial government programs.
How do I respond to a GST notice?
Any reply to the GST notices can be submitted online on the GST portal. A taxpayer can use the digital signature or e-signature of the authorised personnel of such taxpayer or himself. Where the payment of tax and interest is required, pay such liability in the requisite form and manner.
What is the maximum income for GST HST credit?
The GST/HST credit is designed for low to moderate-income families. As a result, there is a maximum income for eligibility. For single individuals, the maximum is $48,012 before tax. For married or common-law couples with four children, the maximum combined net income is $63,412 before tax.
What is HST recoverable?
HST Recoverable
HST is a consumer tax which means that businesses are able to claim back any HST they pay on purchases of supplies, expenses ,etc. Any HST paid by the business is tracked in an account called HST Recoverable and is in a debit balance because like Accounts Receivable, it is money owed to the business.
What is the penalty for paying HST late?
Find out how and when penalties apply
| Type of penalty | Amount charged |
|---|---|
| Failure to file | A + (B × C) where: A is 1% of the amount owing B is 25% of A C is the number of complete months the return is overdue, to a maximum of 12 months |
| Demand to file | $250 |
How far back can you amend an HST return?
For most registrants, this claim can be any time within four years. For others, the time deadline is described as the past two years plus the current fiscal year. As a result, the Canada Revenue Agency (CRA) has published its policy it will not allow a return to be amended for ITCs that have been missed.
Can I revise my GST return?
Yes, GST allows for GSTR 3B rectification using the revision and resetting option. Note: After the liability is offset with credits and cash placed into the e-cash wallet, GSTR 3B rectification is not feasible.
Can small business claim back GST?
Claiming back GST (and input tax credits) GST-registered businesses can claim back the GST they pay on business expenses.
Do I have to pay GST if I make less than $30 000?
You have to start charging GST/HST on the supply that made you exceed $30,000. You exceed the $30,000 threshold 1 over the previous four (or fewer) consecutive calendar quarters (but not in a single calendar quarter).
Can GST paid be claimed on your BAS without a tax invoice?
You must have a tax invoice to claim a GST credit for purchases that cost more than A$82.50 (including GST). Your supplier has 28 days to provide you with a tax invoice after you request one. Wait until you receive it before you claim the GST credit, even if this is in a later reporting period.