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GST/HST Fundamentals
Introduction & Course Administration
Introduction to the course and how it is laid out (4:55)
Asking questions - What I can and cannot answer (2:48)
What this course focuses on and my goal to train you as a practitioner (3:23)
Certificate of completions - refund policy - course navigation (6:25)
Navigating the course with the online platform (5:30)
Course notes and PowerPoint Slides (3:34)
M1 - The GST/HST Framework & How it Works
The model that the GST/HST is based on - who pays the tax? (4:26)
The general framework of the HST - The basics on how the system works (4:43)
An example of the reporting and how it all works (4:01)
GHST/HST rates for all the provinces along with Provincial Sales Tax Rates (3:49)
Be careful on distinguishing between GST/HST and the PST charged by Provinces (4:21)
What are taxable supplies, zero-rated supplies and exempt supplies (4:27)
Some examples of the different rated supplies and where to find information (4:38)
Due diligence in determining which taxable supply applies (5:59)
Other useful CRA resources and documents available (2:42)
M2 - GST/HST Registration Requirements
Introduction to filing requirements and the things you should know to consult clients (2:43)
Registration requirements for the GST/HST and who needs to register (6:03)
The small supplier rule and optional registration vs. mandatory registration (7:52)
When does a small supplier lose its status and need to start charging GST/HST (3:27)
When does a business need to register once small supplier status is lost (3:30)
Case examples illustrating no registration and the four consecutive quarter rule (4:54)
Example showing registration using the single quarter rule (2:19)
The practical side of the small supplier rules and what to expect (5:41)
Reasons why a business should register if below the threshold (7:02)
Date of registration and why it's important (5:32)
What you should do once you are registered for the GST/HST - Bookkeeping considerations (4:51)
Registration requirements for taxi and limousine services (4:04)
Registration requirements for commercial ride-sharing drivers - Uber Lyft (3:09)
Registration requirements for food delivery service drivers - Uber Eats, Door Dash, etc. (3:26)
M3 - Charging the GST/HST & claiming Input Tax Credits (ITC)
Proper disclusure on invoices when you charge HST and collect ITC's (4:57)
Introduction to the place of supply rules and the problems posed by the GST system (3:32)
Place of supply rules - What rate to charge on the sale of goods to Provinces (2:44)
Place of supply rules - Service Rule 1 - What is the address of the recipient? (4:34)
Place of supply rules - Service Rule 2 - What if there is no address - What rate to charge (2:07)
Place of supply rules - Service Rule 3 - Work done equally in different Provinces (1:56)
Place of supply rules - Service Rule 4 - Work done in non-participating Provinces (2:43)
Practical perspectives on applying the place of supply rules (6:16)
What you need to know about operating expenses and ITC's (3:17)
Special rules for various ITC and special situations (7:04)
Time limits for claiming ITC's if they were not claimed on the original report (4:44)
Claiming ITC's and the different types of automobiles - passenger vs motor vehicles (3:48)
A useful table you can use to make the vehicle determination (5:16)
A general overview on claiming ITC's on motor vehicles (2:22)
The maze of ITC rules as they relate to passenger vehicles - proprietors and corps (4:29)
Example of ITC rules to apply to proprietors for passenger vehicles (5:32)
How to calculate and claim ITC's on home office expenses (5:07)
M4 - Special Situations & Complicating Factors
Introduction to the special situations unit and how to use this module (1:54)
What can be claimed as ITC's on GST/HST registration (5:45)
GST/HST rules and intricasies on the sale of commercial real estate - real property (4:37)
GST/HST implications and rules for purchase of residential and rental properties (6:37)
GST/HST rules when a business is sold (6:23)
The issue of claiming ITC's when there are different supplies by one business (6:20)
A real life case example of the complexities and options on determining ITC proportions (6:39)
The approach used in this case example and correspondence with CRA auditor (4:52)
A further example of allocating ITC's among supplies and dealing with CRA on the issues Lecture (5:06)
Things can get a little complicated even when you think they're not (5:22)
Special rules with respect to the provincial component of the HST on insurance (3:34)
M5 - The Quick Method of Reporting GST/HST
Introduction to the quick method of accounting for GST/HST (3:00)
The requirements for being eligible to use the quick method (3:53)
Who is not allowed to use the Quick Method - Exceptions (2:09)
Making the necessary elections to use the quick method - CRA Form GST74 (4:24)
Methods you can use to file the GST74 election (2:09)
Due dates for filing the GST74 election (3:46)
Revoking a Quick Method election and the waiting period to re-apply (2:19)
How to determine the appropriate remittance rate to use with the Quick Method (7:10)
What if a company does business in more than one province? (3:44)
An example showing the difference between the quick method and long method (3:02)
Illustration of how to fill out the GST form and report when using the Quick Method (3:02)
Expanding the previous example to include ITC's on capital asset purchases (2:10)
Supplies not eligible for the remittance rate - You cannot use Quick Method on these (2:49)
M6 - Filing Requirements & Account Maintenance
A review of the GST/HST filing components using a working copy of the GST/HST form (5:06)
Overview of the online services for the GST/HST module of Represent a Client (6:43)
How to file the GST/HST return using the Represent a Client Service (5:09)
How to pay the amount of GST/HST owing using online banking (5:47)
How to file and pay amount of GST/HST owing using GST/HST NETFILE (4:31)
What if you don't have an access code or can't find it? (4:42)
What if the business has no activity or it is shut down or inactive? (3:25)
What if there are changes to be made to a filed GST/HST return due to errors or oversights? (6:21)
GST/HST assigned reporting periods and optional reporting periods (2:50)
Considerations when choosing return periods (5:25)
Difference between quarterly instalments and quarterly filing requirements (4:22)
How to file an election to change GST/HST reporting periods using Represent a Client (3:08)
Election to change reporting periods using paper form GST20 (3:57)
Advantages to having fiscal years match GST/HST reporting periods (4:18)
M7 - Registration & the Practical Side of Administering GST/HST for Your Clients
The process for applying for a GST/HST account with CRA online services (3:46)
The Business Registration Online portal and how to register businesses (4:30)
What to do when you do not have access to the BRO or CRA online services (3:18)
A useful overview of the Business Registration RC1 form to understand questions (5:41)
Example of the step-by-step process for business number registration (4:12)
What if I need to close my GST/HST account - Example of business number deregistration (3:17)
If BRO is not an option - A look at the RC145 form and what you need to fill in to close the GST/HST account (4:19)
GST/HST filing deadlines and payment dates (4:54)
Closing a business number vs closing a business - corp differences (3:32)
M8 - Practice Advice, Tips & What to Expect from CRA
Practice Guidance - Save hours of time later by doing some work now & using tools (3:01)
Making sure financial statements line up with GST/HST reports (5:05)
Practice - Reasons why the revenues or HST collected do not match (6:13)
Practice - What to expect from the CRA when numbers don't match (5:25)
Caution - Personal income above the small supplier thresshold due to management fees (5:09)
Practice - What to expect from the CRA when you pass the thresshold (4:45)
Practice advice - Doing a reasonability check to ensure numbers make sense (11:05)
Practical side - Should you file a return with ITC's even if you have no revenue (5:29)
Associated Groups - Registration of group entities & effect on reporting periods (5:03)
Caution - Related intercompany transactions and how the GST/HST applies (7:05)
T2125 Clients - Some tips to help you prepare GST/HST returns for proprietors
T2125 Clients - Two methods of reporting expenses with HST on the T2125 (4:38)
T2125 Clients - Examples of the two methods and how to enter (6:37)
T2125 Clients - Two methods of reporting income-revenue with HST on the T2125 (2:04)
T2125 Clients - Examples of the two revenue methods and how to enter (4:30)
M9 - Accounting & Bookkeeping for the GST/HST on Financial Reports
The importance of proper bookeeping and accounting systems for the GST/HST (3:50)
Being aware of the shortcomings and issues with software programs (5:01)
Recommended chart of accounts to use for GST/HST transactions (5:42)
Why separating the accounts is more useful than one account (3:13)
Accounting journal entries for sales transactions with the GST\HST (3:11)
Accounting journal entires for purhcase transactions with the GST/HST (3:22)
Disclosure of accounts on company books and financial statements (4:44)
Using the GST-HST instalment account to post payments (3:13)
Potentially saving hours of time by using the G/L accounts we've discussed thus far (4:08)
Posting cheques to clear out the prior period GST-HST accounts (6:13)
Posting refunds received to the proper accounts (3:34)
Posting prior period pending transactions to avoid mistakes (4:47)
Accounting for the Quick Method of GST/HST reporting - Effect on accounts (3:23)
Accounting for the Quick Method of GST/HST - Transactions and reporting (3:13)
Example of a client file where only one account was used and how to save time (9:02)
M10 - Dealing with Audits, Reviews & Other Issues
What can you expect from the CRA when GST/HST reports are not filed or outstanding (4:12)
What auditor's review when they do a GST/HST review of an account (6:53)
What are arbitrary assessments and how do you deal with them (5:03)
Issues with owing GST/HST and payment options when it can't be all paid in full (6:12)
Director liability for trust accounts and what to expect when GST can't be paid (5:09)
Practice advice - advise clients on their ongoing responsibility and resignation (4:30)
Director liability court case - even if being diligent not enough (6:06)
Objecting to a Notice of Reassessment and dealing with appeals at CRA (5:41)
Advisory - Be aware that GST/HST and personal objections are not the same (3:06)
Collection issues when GST/HST arises from a personal audit (5:29)
Appealing to the Tax Court of Canada - Deadlines and procedures (4:31)
The realities of GST/HST and what to expect from the CRA department (3:14)
Recent projects on reviewing large refunds (6:34)
Compliance letters - pilot project that will turn into regular reviews (6:47)
Personal audits that have GST/HST implications (3:55)
Unreported income problems with recent CRA audit (5:35)
Audits being conducted with junior auditors and left dealing with appeals (5:23)
Best Practice: Staying off the CRA's radar maps - little things big difference (3:26)
Course conclusion and thank you! (4:31)
A useful table you can use to make the vehicle determination
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