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In response to
"what show?? (and good, you can explain to me what the hell i'm supposed to be doing now. i have a GST number.) -- nm"
by
Andie
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Its a Peel Region Rogers TV show called "In Business"......your situation inside....
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Essentially as of July 01, the two sales taxes are merged and with a couple of exceptions the GST rules and policies will now apply to the new HST. You wont need anything new but some of your services might have been only subject to the 5% GST before but will be subject to the full 13% combined GST and PST. But you will be able to claim the full 13% back as the input tax credits as per the current GST rules.
Advantages for business is that you now have only one set of rules and you get to make full use of the input tax credits. Disadvantage is that some of your services were likely not subject to both taxes before and as of July will be.
If you want, I can send you something that we are working on in our office and sending out to clients to explain all the changes.
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