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HST/GST Payment Dates in Canada:
Everything You Need to Know

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What is GST/HST?

GST stands for Goods and Services Tax, while HST is short for Harmonized Sales Tax. These are consumption taxes that are applied to most goods and services in Canada.

GST rate is 5%, and the HST rate varies depending on the province. Some provinces have a 13% HST rate, while others have a 15% rate. 

  • 13% (HST) in Ontario
  • 15% (HST) in New Brunswick, Newfoundland and Labrador, Prince Edward Island and Nova Scotia.

GST/HST is collected by businesses and individuals on behalf of the government.

 

When Are GST/HST Payments Due?

GST/HST payments are typically due on a quarterly basis, but the exact schedule may vary depending on business reporting period. Here’s a breakdown of the payment due dates:

  • Monthly Filing:

– If a business has annual taxable supplies of more than $6 million, they must file and remit GST/HST on a monthly basis. Payments are due by end of the month following the reporting period.

  • Quarterly Filing:

– Most businesses in Canada fall into this category. If a business’s annual taxable supplies are less than $6 million, they can file and remit GST/HST on a quarterly basis.

The due dates for quarterly payments are as follows:

– January 31 (for the October to December period)
– April 30 (for the January to March period)
– July 31 (for the April to June period)
– October 31 (for the July to September period)

  • Annual Filing:

– Some small businesses may be eligible to file and remit GST/HST annually. If annual taxable supplies are less than $500,000, they can choose this option. The due date for annual payments is three months after your fiscal year-end.

 

How to Make GST/HST Payments

There are several ways to make your GST/HST payments in Canada:

  • GST/HST NETFILE :

GST/HST NETFILE is an online service offered by the CRA that allows taxpayers to electronically file their GST/HST returns from the comfort of their home or office. This means no more paperwork and mailing hassles.

  • Bank :

Taxpayers can visit their financial institution and make a payment in person. Make sure to bring GST/HST remittance voucher, which is available on the CRA’s website.

  • Professional Assistance :

Taxpayers can seek professional advice to submit their HST/GST return without any mistakes or omissions by hiring a professional tax accountant.

It’s important to note that if the due date falls on a weekend or a holiday, the deadline is extended to the next business day. Missing the payment deadline can result in penalties and interest charges, so it’s essential to mark your calendar and ensure timely payments.