Understanding GST, HST & Incorporation: When to Charge, Who’s Exempt, and How to Claim Input Credits

Navigating the complexities of Goods and Services Tax (GST) and Harmonized Sales Tax (HST) in Canada is essential for every business owner. Are you unsure when to charge GST/HST or who qualifies for exemptions? This article breaks down the critical aspects of GST/HST incorporation, from understanding the applicable rates to claiming Input Tax Credits (ITCs) on your expenses. Whether you're a seasoned entrepreneur or just starting, mastering these tax intricacies can significantly enhance your financial performance. Dive in to discover how to optimize your business's tax strategy and ensure compliance with Canadian regulations!