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GST/HST for Business and Self-employed Individuals 101
GST/HST is an integral part of running a business, and not understanding the rules surrounding sales tax can be damaging for your business. Self-employed Canadians
Exciting developments are underway for therapy services across Canada! Following extensive efforts, many therapy services will now be exempt from GST/HST starting June 20, 2024, enhancing accessibility to these crucial services. It’s essential for practitioners to grasp the specifics and implications of these changes.
To qualify for GST/HST exemption, therapy services must meet the following criteria:
GST/HST is an integral part of running a business, and not understanding the rules surrounding sales tax can be damaging for your business. Self-employed Canadians
For practitioners already registered for GST/HST, several considerations arise:
Were Your Tuition Credits Completely Used Up from Your School Years? Healthcare professionals in Canada can incorporate their practice to take benefit of certain tax
To navigate these changes:
We are a team of qualified and experienced chartered professional accountants who add value to your business with our skillset and efficiency. Please contact us directly if you are looking for a competent corporate tax accountant in Toronto to handle your business or corporation’s income tax return.
Start My Tax PrepThe shift in therapy service taxation signifies a milestone in Canadian healthcare accessibility. While streamlining operations and updating financial strategies, practitioners can uphold service excellence amidst evolving regulatory landscapes.
For expert guidance tailored to your practice, contact SDG Accountant today. Together, we navigate these changes, ensuring your practice remains resilient and client-focused in the evolving healthcare landscape.
The information is not intended to constitute professional advice and may not be appropriate for a specific individual or fact situation. It is written by the author solely in their personal capacity and cannot be attributed to the accounting firm with which they are affiliated. It is not intended to constitute professional advice, and neither the author nor the firm with which the author is associated shall accept any liability in respect of any reliance on the information contained herein. Readers should always consult with their professional advisors in respect of their particular situations.
— Sami Ghaith
CPA, CGA, MBA