Calling All Ontario Hustlers: How to Snag That HST Registration Number (It's Easier Than You Think!)
Living the dream, eh? You've built your business in beautiful Ontario, and now it's time to level up and become a tax-collecting machine (well, sort of). But before you go all Willy Wonka and print your own chocolate bars with HST included, you gotta get that golden ticket: the HST registration number.
Fear not, fellow entrepreneur! Obtaining this number is easier than navigating a Tim Hortons drive-thru during a double-double shortage. Here's the lowdown on how to snag that HST number and officially join the big leagues (of tax collection, that is).
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| How Do I Get My Hst Registration Number In Ontario |
Step 1: The CRA Dance (It's not the Macarena, but it gets the job done)
The CRA, or Canada Revenue Agency, is your partner in crime... well, tax crime... not exactly crime, but you get the idea. They're the folks who'll grant you that coveted HST number. You can boogie on over to their website (https://www.canada.ca/en/revenue-agency.html) or give them a ring at 1-800-959-5525.
Important tidbit: As of June 17, 2024, if your social insurance number (SIN) starts with a magical "9," you can use the CRA's online service to register for a business number and HST account in one fell swoop! Talk about a time-saving tango!
QuickTip: Note key words you want to remember.
Step 2: Answering the Fun (or maybe not so fun) Questions
The CRA will ask you a few questions to make sure you're ready for the HST responsibility. Be prepared to dish on things like:
- Your expected revenue: Basically, how much moolah are you expecting to rake in?
- Your fiscal year-end: When does your business accounting year wrap up?
- Your filing preferences: How often do you want to file those sweet HST returns (monthly, quarterly, you pick!)
Pro tip: Don't worry, these questions aren't designed to stump you. The CRA just wants to make sure you're set up for success.
Step 3: The Big Reveal (Drumroll, please...)
Once you've waltzed through the CRA's registration process, you'll receive your HST registration number in the mail or electronically, depending on your chosen method. Now you can strut your stuff and start collecting that HST like a champ!
QuickTip: Focus on one paragraph at a time.
HST FAQs for the Busy Bee
Alright, so you've got the gist, but maybe a few lingering questions are buzzing around your brain. No worries, we've got you covered with this rapid-fire FAQ session:
How to know if I need to register for HST?
In Ontario, you generally need to register for HST if your revenue exceeds $30,000 in a 12-month period. But there are some exceptions, so check the CRA website for details.
QuickTip: Slow scrolling helps comprehension.
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How long does it take to get my HST registration number?
If you register online, you can get your number instantly (with that magic SIN number starting with 9). Otherwise, it usually takes 5 to 10 business days.
How do I charge HST after I register?
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You'll need to add the HST rate (currently 13% in Ontario) to the price of your goods and services. Make sure you keep good records of the HST you collect.
How do I file HST returns?
The CRA will send you information on how to file your HST returns based on your chosen filing frequency. You can file online or by mail.
How do I avoid HST audits?
Keep good records, file your returns on time, and pay what you owe. The CRA is more likely to audit businesses with messy bookkeeping or suspicious activity.
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