• Jennifer Smith

038 | New Series - Topic of the Month!

Updated: Jan 27

Last month we posted some tips on GST, and since it is such a popular topic, we thought it was time to start a new series - Hot Topics!

We are going to build off last month's post and continue along with #GST this month. Let's jump right in!

The first piece of the elusive GST puzzle is to register for a GST number. This is the easiest step in the process and the results will be two-fold. You will have a Business Number (if you didn't already), plus your GST number. At the same time, while you are in the CRA website, the links on this page will suggest you also register for a CRA MyBusiness Account. We highly recommend that you perform all CRA registrations at once. We will talk more about that on the upcoming posts.

When you are ready to register, gather the following first:

  1. Start date to begin with GST

  2. Your Fiscal Year End

  3. Total Revenue (NOT net profit, just Revenue)

  4. Your personal information

You will receive a confirmation and can start collecting and charging GST.

And as always, we are here to help! Contact us with your questions.

#bigrosebookkeeping #entrepreneur #smallbusiness #SMB