GST/HST filing in Abbotsford

Zero-rated is not the same as exempt, and the difference is your money

Two categories charge the customer no sales tax but work oppositely. A zero-rated supply is taxable at 0%, so you keep input tax credits on inputs. An exempt supply is outside the system, so tax on inputs becomes a permanent cost.

Why an Abbotsford producer is usually owed money

For an Abbotsford producer, this decides the return. Basic groceries and many agricultural and fishing products are zero-rated, while fuel, equipment, packaging, repairs and fees carry recoverable 5% GST. The CRA owes the business money most periods. See zero-rated versus exempt supplies.

If you are always in a refund position, your filing frequency is a cash flow decision

Filing frequency is usually seen as paperwork. For a business with a structural refund, it is more: every period that passes leaves money with the CRA instead of in your account. A producer filing annually is effectively lending the government a year of GST on inputs, interest-free.

Frequency follows annual taxable supplies, but you can often elect to file more frequently than required, turning a yearly lump into regular refunds. Keep complete purchase records and supplier registration numbers, and reconcile returns to the books, not a bank feed. Read what the CRA checks, because refund claims draw more attention.

PST runs alongside, on its own rules

BC did not harmonize. Its 7% PST is registered and filed separately with the Ministry of Finance, and PST paid on business inputs is generally a cost rather than a recoverable credit.

Farm and production exemptions from PST

BC exempts certain categories of farm and production equipment, so confirm each item rather than assuming an industry exemption. Our BC PST guide covers registration, and rates are on the BC tax facts page.

What the engagement covers

• GST/HST registration, or a review of your current filing frequency
• Returns prepared and filed on your reporting schedule
• Sales classified correctly between taxable, zero-rated and exempt
• Input tax credits identified and claimed, including on capital purchases
• Separate BC PST registration and returns where PST applies
• Reconciliation of both filings back to your bookkeeping
• CRA correspondence and refund follow-up handled for you

Remote, from an office that happens to be here

EverStone is a sole practitioner CPA firm working online: records arrive electronically, returns are reviewed by video, and approvals are signed digitally. The sales tax calculator lets you check a figure first.

If corporate tax accountant in Abbotsford and the Abbotsford personal tax page is the more pressing job, start there instead.

Owners who need monthly books for Abbotsford businesses and personal tax accountant in Abbotsford as well will find it on the same terms.