Backdating gst registration canada
Whether your charity is incorporated or unincorporated, you have to use the gross revenue of your organization as a whole (the legal entity) to determine if you qualify as a small supplier under this test. You may choose to do so voluntarily if you provide taxable supplies in Canada.At the end of every quarter, you have to make the same calculation to see if you are still a small supplier. You cease to be a small supplier on the supply that made you exceed ,000.While you are not required to register for GST/HST until your annual gross revenues exceed a minimum threshold (currently ,000) we generally recommend that any business register as soon as possible. Unless you are a GST/HST registrant you cannot claim GST/HST input tax credits (GST/HST paid on business expenditures).
Registrants can claim a credit to recover the GST/HST that is paid or payable on purchases used to provide taxable goods and services.If the GST/HST collected is greater than the GST/HST paid or payable, the difference is sent to the CRA.If the GST/HST collected is less than the GST/HST paid or payable, a refund can be claimed.Generally, GST/HST registrants have to collect GST/HST on all taxable (other than zero-rated) supplies of goods and services they provide to their customers.However, there are some exceptions for sales of taxable real property.
If you're not a registrant the GST/HST paid on expenses is included as part of the expense when computing net income.2.