What was GST rate in 2012?
5%
2012 Sales Tax Rates in Canadian Provinces and Territories
| Prov/ Terr | 2012 Rate | |
|---|---|---|
| AB | 5% GST | n/a |
| SK | 5% GST | 5% |
| MB | 5% GST | 7% |
| ON | 13% HST | n/a(4) |
What is the remittance rate for the quick method HST?
Well, under the Quick Method, you only have to remit a portion of the 13% you collect from your customers. The rates for remittance are: 4.4% for businesses that purchase goods for resale (antique dealers, convenience stores)
What is the rate for HST?
The current rates are: 5% (GST) in Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Quebec, Saskatchewan, and Yukon. 13% (HST) in Ontario. 15% (HST) in New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island.
What was the GST rate in 2005?
Current and Historical GST HST Rates 1991 to present
| Period | GST | HST |
|---|---|---|
| Jan 1 2008 to June 30 2010 | 5% | 13% |
| Simplified rates* | 4.762% | 11.504% |
| Jul 1 2006 to Dec 31 2007 | 6% | 14% |
| Simplified rates* | 5.660% | 12.281% |
What is HST remittance?
Collecting and remitting GST or HST allows a business to recover the GST or HST it pays on business expenses. In Ontario, businesses which register with Canada Revenue Agency, or which are eligible to register, can collect 13% HST from customers and recover the amount of HST they paid on business expenses.
What is Canada’s tax rate?
Federal Income Taxes In Canada, the range is 15% to 33%. In the U.S., the lowest tax bracket for the tax year ending 2019 is 10% for an individual earning $9,700 and jumps to 22% for those earning $39,476.
How do you calculate HST in Ontario?
Current HST rate for Ontario in 2021 The HST for Ontario is calculated from Ontario rate (8%) and Canada rate (5%) for a total of 13%.
When does the 5% HST remittance rate apply?
This rate applies to income for the year anywhere from july 1st 2016 to 2021 based on the reporting period chosen. For retailers and wholesalers 1 in the same situation, the HST remittance rate is 5%.
How is the amount of GST / HST calculated?
To calculate the amount of GST/HST to remit, multiply the revenue from your supplies (including the GST/HST) for the reporting period by the quick method remittance rate, or rates, that apply to your situation. The remittance rates of the quick method are less than the applicable rates of GST/HST that you charge.
What was the HST rate in NS in 2012?
(5) NS 2012 Budget announced that their HST rate will be reduced to 14% on July 1, 2014 and 13% on July 1, 2015. Businesses which sell taxable goods and/or services in each province are required to register as a vendor to collect the provincial retail sales tax where applicable.
What was the GST QST rate in 2012?
The 9.5% QST rate is effective January 1, 2012. Effective January 1, 2013, the QST rate will be 9.975%, but will no longer be charged on GST. This results in no change to the total tax.