![]() ![]() If you’re required to register for the GST/HST for your self-employment activities, knowing the details can be very helpful and help to avoid penalties and interest. Another good reason to register voluntarily is if you have to spend a lot of money up front to get your business going because the ITC’s on the first few returns would provide a refund of GST/HST paid, and that extra cash could help the business grow a little faster. Voluntary registration for the GST/HST is a good idea if you produce or sell zero-rated supplies. Although not required to charge GST/HST on sales, ITC’s can be claimed. In some situations, voluntarily registering for the GST/HST makes sense, even if you are not required. One reason is to get a head-start on proper record-keeping. Another reason would be if you know your business was going to exceed the Small Supplier threshold fairly quickly – it’s $30,000 in sales, not profit. That first sale you make at this point should include GST/HST as per place of supply. This means you’re required to register for GST/HST right away and begin to charge, collect and remit the tax.
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