Which of the following is NOT correct?
1. |
Long-term residential rents are exempt from GST. |
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2. |
In a province, there can be a provincial sales tax or the HST, but not both. |
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3. |
All persons engaged in a business must register with the CRA for GST purposes. |
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4. |
Manitoba and Saskatchewan charge GST at the same rate. |
1 points
Answer - option 2 is not correct.
Provinces that adopt the HST combine their provincial sales tax rate with the federal GST rate and charge are combined rate on most goods and service. In these provinces, the receiver general for canada is the collection agent for both the federal and provincial governments, reducing some of the administrative burden from the provinces.
1.When you rent out a residential property for residential purpose, it is exempted from GST.
3.From Canada revenue agency, registration for GST / HST is mandatory for every person who makes a taxable supply in canada in the course of commercial activity engage in by the person in canada must register for the GST/ HST.
4.The rate of at other taxable supply depends on the province or territory. the current rates are 5% (GST) in Alberta ,British Columbia, manitoba ,quebec, Saskatchewan, and yukon.
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