Lesson – 2
GST/HST/PST/RST
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GST
|
General Sales Tax
|
|
HST
|
Harmonized Sales Tax
|
|
PST
|
Provincial Sales Tax
|
|
RST
|
Retail Sales Tax
|
|
When Tax is exempt?
|
It means tax (GST/HST) is not
calculated on:
1.
Child Care
2.
Dental Services
3.
Legal Aid
4.
Education Services (Cert. / diploma)
|
|
What is Zero Tax?
|
It applies on Basic Groceries items:
5.
Milk
6.
Bread
7.
Vegetables
8.
Grain
9.
Raw wool
10.
Prescription drugs
11.
Medical devices (hearing + teeth)
|
|
When a business must register to
collect tax
|
When annual sale is less
than 30,000
|
|
What is the tax charged on to consumer
|
26% (13% + 13%)
|
|
HST in Various Provinces and rates:
Ontario
Newfoundland n Labrador
New Brunswick
Prince Edward Island
Nova Scotia
|
13%
13%
13%
14%
15%
|
|
Remaining all the provinces and territories
GST is
|
5%
|
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PST is as follows:
Saskatchewan
Manitoba
British Columbia
Quebec
|
5%
7%
7%
9.975%
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