Question

When will you implement the HST/GST into your business?

When will you implement the HST/GST into your business?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What is the rates of GST/HST in Ontario and why does it differ in the Provinces...
What is the rates of GST/HST in Ontario and why does it differ in the Provinces of Canada
Felicia’s Frocks, an unincorporated retail business, operates solely in Nova Scotia where the HST rate is...
Felicia’s Frocks, an unincorporated retail business, operates solely in Nova Scotia where the HST rate is 15 percent. The Quick Method remittance rates are 5 percent for businesses that purchase goods for resale and 10 percent for service providers. During the first quarter of the year, the business has sales of fully taxable items in the amount of $42,300. Current expenses on which HST was paid amount to $37,800. In addition, capital expenditures during this period totaled $72,000. All of...
Which of the following is NOT correct? 1. Long-term residential rents are exempt from GST. 2....
Which of the following is NOT correct? 1. Long-term residential rents are exempt from GST. 2. In a province, there can be a provincial sales tax or the HST, but not both. 3. All persons engaged in a business must register with the CRA for GST purposes. 4. Manitoba and Saskatchewan charge GST at the same rate. 1 points      Question 4 of 5   Moving to another question will save this response.
A GST registered business has purchased supplies from a non-GST registered company. What action can the...
A GST registered business has purchased supplies from a non-GST registered company. What action can the GST registered company take for this transaction? Select one: a. It can’t claim a GST credit as the supplier must not include GST on the price b. It can only claim a GST credit c. It can claim a GST credit and also can offset them against the amount of GST the business is liable to pay d. Both B& C
Riverbed Ltd. is a merchant and operates in the province of Ontario, where the HST rate...
Riverbed Ltd. is a merchant and operates in the province of Ontario, where the HST rate is 13%. Riverbed uses a perpetual inventory system. Transactions for the business for the month of March and April are as follows: Mar. 1 Paid March rent to the landlord for the rental of a warehouse. The lease calls for monthly payments of $5,020 plus 13% HST. 3 Sold merchandise on account and shipped merchandise to Marcus Ltd. for $17,420, terms n/30, f.o.b. shipping...
a) Michael is working on the quarterly GST remittance to the government. He records $34510.39 in...
a) Michael is working on the quarterly GST remittance to the government. He records $34510.39 in GST-taxable sales for the period, and $22973.43 in GST-taxable purchases for the business. What is the GST payable amount owing to the government for the quarter? Show your work to 6 decimals and round your final answer to the nearest cent [2 decimal places] with the appropriate units. b) Michael receives a SEMI-annual tax bill of 3726.65. He sees that the mill rate charged...
when would top-down theory implement policy be best to use and please explain your answer?
when would top-down theory implement policy be best to use and please explain your answer?
Your business purchased inventory on 02/07/15. The total invoice was $11,000 and the terms were 5/10,...
Your business purchased inventory on 02/07/15. The total invoice was $11,000 and the terms were 5/10, n30. All answers are numbers which consist only of the digits 0 to 9. Symbols or punctuation marks should NOT be incorporated in answers. If you paid this invoice on 15/07/15 calculate: The amount of any discounts that may be applicable (inc GST) Answer GST related to discount if any Answer Discount net of GST if any Answer Amount of GST in the original...
Your business purchased inventory on 02/07/15. The total invoice was $11,000 and the terms were 5/10,...
Your business purchased inventory on 02/07/15. The total invoice was $11,000 and the terms were 5/10, n30. All answers are numbers which consist only of the digits 0 to 9. Symbols or punctuation marks should NOT be incorporated in answers. If you paid this invoice on 15/07/15 calculate: The amount of any discounts that may be applicable (inc GST) Answer GST related to discount if any Answer Discount net of GST if any Answer Amount of GST in the original...
A business purchases 10 digital televisions for use in its offices. When the televisions arrive at...
A business purchases 10 digital televisions for use in its offices. When the televisions arrive at the workplace the owner of the business decides that one will be taken home. The total cost of the acquisition was $26,500 (GST inc). Describe in 80–100 words how you would process this to comply with taxation reporting requirements. How much input tax credit could be claimed? What would be the BAS code for the acquisition? Why would you code it there?