Sales Tax 101, with special guest, Jordan Brown
GST... HST... PST... so many acronyms, so little time! If you are a small business owner who has ever felt a little lost about sales taxes, then this episode is for you!
Are you a small business owner? Have you ever struggled with figuring out when/how to file PST and GST/HST returns? Curious of what to do if you are selling to another province? What about online sales?
In this episode of The Tax Chick Podcast I am chatting with my new friend, Jordan, who is the owner of Lift Accounting here in Saskatoon. Jordan regularly assists small business owners with their sales tax needs. We discuss: (1) What is GST/HST and how does it differ between provinces, including what you need to know if you are providing services out of province (7:30); (2) What is PST and how does it differ between provinces (23:15); and (3) Some filing tips for business owners (36:20). Join us as we chat about our love for YXE, and of course sales taxes!
UPDATE: After recording the episode, Jordan was made aware of a new BC PST Bulletin (#001) which sets out the new PST registration requirements for out-of-province businesses who sell to BC customers: https://www2.gov.bc.ca/assets/gov/taxes/sales-taxes/publications/pst-001-registering-to-collect-pst.pdf. It appears that the BC Ministry of Finance is requiring out-of-province businesses who have sold more than $10,000 over the past 12 months to BC customers to register for a PST account in BC effective April 1, 2021. (This new PST registration requirement for BC applies to out-of-province businesses who are not soliciting sales from BC customers but have sold more than $10,000 over the past 12 months.)
UPDATE: After recording the episode, Jordan was made aware of a new BC PST Bulletin (#001) which sets out the new PST registration requirements for out-of-province businesses who sell to BC customers: https://www2.gov.bc.ca/assets/gov/taxes/sales-taxes/publications/pst-001-registering-to-collect-pst.pdf. It appears that the BC Ministry of Finance is requiring out-of-province businesses who have sold more than $10,000 over the past 12 months to BC customers to register for a PST account in BC effective April 1, 2021. (This new PST registration requirement for BC applies to out-of-province businesses who are not soliciting sales from BC customers but have sold more than $10,000 over the past 12 months.)
RESOURCES DISCUSSED ON THE EPISODE
- Oneiro Designs: https://www.oneirodesigns.com
- Square One Saskatchewan Small Business Support: https://squareonesask.ca/
- Women Entrepreneurs of Saskatchewan: https://wesk.ca/
- The GaryVee Podcast: https://www.garyvaynerchuk.com/podcast/
MORE FROM JORDAN:
- Facebook: https://www.facebook.com/liftaccounting/
- LinkedIn: https://www.linkedin.com/company/liftaccounting/
- Instagram: https://www.instagram.com/lift_accounting/
- Twitter: https://twitter.com/lift_accounting/
- Website: https://www.liftaccounting.ca/
MORE FROM AMANDA
- The Tax Chick Blog - https://taxchickca.wordpress.com;
- Connect with me by email: thetaxchickpodcast@gmail.com
- LinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/
- Instagram: @tax.chick
- Clubhouse: @taxchick