Small supplier

Small supplier refers to a person whose revenue from worldwide taxable supplies was equal to or less than $30,000 ($50,000 for public service bodies) in a calendar quarter and over the last four consecutive calendar quarters.

Zero-rated supplies

Zero-rated supplies are supplies of goods and services that are taxable at the rate of 0%. This means there is no GST/HST charged on the supply of these goods and services, but GST/HST registrants can claim ITCs for the GST/HST paid or payable on purchases and expenses made to provide them.

Taxable supplies

Taxable supplies are supplies of goods and services that are made in the course of a commercial activity and are subject to the GST/HST (including zero-rated supplies).

What are excise duties?

There are two types of federal levies on a limited range of products manufactured or produced in Canada: excise taxes and excise duties.

Exempt supplies

Exempt supplies are supplies of goods and services that are not subject to the GST/HST. GST/HST registrants cannot claim input tax credits to recover the GST/HST paid or payable on expenses related to such supplies.

Operating expenses

Operating expenses are the routie costs of running a business. They include expenses for gasoline, electricity, and office supplies. They do not include the sot of buildings or machinery that are expected to last for sevearl years.

What are excise taxes?

There are two types of federal levies on a limited range of products manufactured or produced in Canada: excise taxes and excise duties.

Harmonized sales tax (HST)

The participating provinces harmonized their provincial sales tax with the GST to implement the harmonized sales tax (HST) in those provinces. Generally, the HST applies to the same base of goods and services as the GST.

Goods and Services Tax (GST)

The goods and services tax (GST) is a tax that applies to most supplies of goods and services made in Canada. The GST also appplies to supplies of real property (land and buildings) and intangible property such as trademarks, rights to use a patent, and digitized products products downloaded from the Internet and paid for…