Quick Method vs regular calculator

Who the Quick Method actually helps

The Quick Method lets you remit a flat percentage of your GST-included sales instead of tracking every input tax credit. It wins when you have high revenue and low taxable purchases — consultants, trades who mostly sell labour, designers, bookkeepers. It loses when you buy a lot of taxable inputs, because you give up claiming GST back on them.

Eligibility is annual taxable supplies of $400,000 or less (GST included), and certain professions — including accountants, lawyers and financial consultants — are specifically excluded. You elect into it with the CRA; it is not automatic.

The 1% credit people forget

On the first $30,000 of eligible supplies each year you get an extra 1% credit — up to $300 — which this calculator already applies. It is small, but it is routinely missed on self-prepared returns.

One caution

Even on the Quick Method you still claim input tax credits on capital purchases such as equipment and vehicles. And if your purchasing pattern changes — a big equipment year, a move into reselling goods — the better method can flip. It is worth re-running this once a year rather than electing and forgetting. The full Quick Method guide → · We file GST returns →