GST/HST & QST Parameters

GST registrant and/or QST registrant

Whether your organisation is solely a GST registrant or both a GST and a QST registrant, our software will apply the tax calculation once you select the GST/HST/QST profile applicable to your case. Input Tax Credits (ITC), which are the GST and the HST claimable on your purchases, and Input Tax Refunds (ITR), which are the QST claimable on your purchases, will be calculated accordingly. You will also get a detailed list of the GST/HST/QST that has been paid (i.e. purchases) as well as the ones that have been deemed paid (i.e. on allowances).

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GST/QST ratios of commercial activities

Organizations that are engaged in both commercial and exempt activities have to apportion their input tax according to their ratio of commercial activities. Again, simply pick the ratio of commercial activities in the setting that is applicable to your employee expenses under the GST regime and under the QST regime in order that these ratios are taken into account in the calculation of input tax claimable and remittable.

Non Profit Organizations – GST/QST purposes

Non profit organisations, such as school boards, colleges, universities, hospitals, municipalities and charities have often different tax recovery rates on their expenditures. Advataxes can integrate different recoverable percentages on taxes paid other than your typical 100% or zero. Furthermore, Advataxes is one of a kind as it populates taxes paid on each purchase and deemed paid on each allowance in a table thus allowing all kinds of subsequent analysis. It’s a great Canadian sales tax enabler. When employees also upload a picture of their receipts with each posting, which is a task that can be done quickly with a smartphone, it is really easy to compare and adjust, if necessary. We will gladly perform a review and list deficiencies, if any so you can rectify erroneous behaviors and confidently face any kind of upcoming audit.

Financial institutions for GST/QST purposes

Financial institutions can claim the percentage of GST/HST and QST paid on expenses under different rules from other types of registrants. Advataxes is set so that the financial institution can claim the tax paid for the exact ratio of commercial activities that is applicable to expenses. Furthermore, for financial institutions that are selected listed financial institutions, Advataxes identifies the tax paid on every purchases in a single report. This is rather useful to populate the Special Attribution Method (SAM).