How Do You Complete A Canadian GST?
• The CRA will send GST filing forms on a regular basis, based on whether you file annually, quarterly, or monthly. Review the form to ensure the business name, number and address are correct. Make note of the due date and reporting period as listed in the top right.’; } s += “”; document.write(s); return; } google_ad_channel = ‘+7733764704+1640266093+9911500640+1730213812+8962074949+8941458308+6822404019+7122150828’ + xchannels + gchans; google_ad_client = “pub-9543332082073187”; google_ad_output = ‘js’; google_ad_type = ‘text’; google_feedback = ‘on’; google_ad_region = “test”; google_ad_format = ‘250x250_as’; //–> • Print a trial balance for the reporting period. • Check that any balance forward amounts match the ending amounts from the trial balance used in your last return. Investigate any discrepancies. • Calculate your total revenue. Interest income and dividends are not included. • Calculate the expected GST amount collected as the Total Revenue x current GST rate. This amount
• The CRA will send GST filing forms on a regular basis, based on whether you file annually, quarterly, or monthly. Review the form to ensure the business name, number and address are correct. Make note of the due date and reporting period as listed in the top right. • Print a trial balance for the reporting period. • Check that any balance forward amounts match the ending amounts from the trial balance used in your last return. Investigate any discrepancies. • Calculate your total revenue. Interest income and dividends are not included. • Calculate the expected GST amount collected as the Total Revenue x current GST rate. This amount should match your actual GST collected amount. • Complete Part 1 (the working copy) of the GST form: • Line 101 is your total revenue rounded to the nearest dollar. • Line 103 is the GST collected amount. • Line 104 is for any adjustments that need to be made to this amount. • Line 105 is the total of line 103 and 104. • Line 106 is the GST input credit a
