GST/HST Bookkeeping and HST Return Preparation
GST, HST and PST coded as you trade, input tax credits supported, and every return prepared for you to approve.
GST/HST Bookkeeping overview
A GST/HST return is only as good as the bookkeeping behind it. Ontario businesses charge 13% HST on most of what they sell; BC businesses charge 5% GST and, on many goods and some services, a separate 7% PST collected by the province. A wrong tax code in the ledger flows straight into the return, where it can surface later with interest attached.
HOF Partners prepares GST/HST working papers and HST returns for small businesses, and for Canadian CPA firms that want the preparation done before their review. We reconcile the tax accounts in QuickBooks Online or Xero to the return each period, check that input tax credits are backed by invoices with the details the CRA requires, and keep PST out of the GST figures.
Returns follow your reporting period: annual if your taxable supplies are $1.5 million or less, quarterly or monthly above that or by election. We send the draft return, the working paper and a list of exceptions. You or your accountant approve it and file electronically through My Business Account, GST/HST NETFILE or your accounting software.
Prefer to talk it through first? Call +971 54 542 4854 or email info@hof-partners.com.
What each GST/HST period includes
- Tax code review
- Every sale and purchase checked for the right treatment: 13% HST, 5% GST, GST plus PST, zero-rated or exempt.
- GST/HST working paper
- Tax collected and input tax credits reconciled from the ledger to the return, with every difference explained.
- Input tax credit checks
- Purchases of $100 or more checked for the supplier's GST/HST number, and those of $500 or more for the full invoice details.
- Draft return
- Return figures completed and ready to approve, with the amount owing or the refund and the date it is due.
- BC PST records
- PST collected on sales and PST self-assessed on purchases tracked separately, ready for your eTaxBC return.
- Registration watch
- Taxable revenue tracked quarter by quarter against the $30,000 small supplier limit, so you know when registration becomes compulsory.
Every GST/HST return starts from a ledger that already agrees with it.
Questions about GST/HST Bookkeeping
Once your taxable revenue, together with that of associated businesses, goes over $30,000 in a single calendar quarter or over the last four consecutive calendar quarters, you are no longer a small supplier and must register. Below that, registration is voluntary, and registering lets you claim input tax credits. See the CRA's registration rules.
Monthly and quarterly returns are due one month after the period ends. Annual returns are generally due three months after the fiscal year end. A sole proprietor with a December 31 year end files the annual return by June 15, but any balance owing is due by April 30.
No. We prepare the return and the working paper and send them to you for approval. You file through My Business Account or GST/HST NETFILE, or your accountant files for you. For reporting periods that began in 2024 or later, nearly every registrant must file electronically.
GST is a federal tax reported to the CRA. BC PST is a separate 7% provincial tax with its own registration and return, filed with the Province of British Columbia through eTaxBC. PST you pay on business purchases cannot be claimed back as an input tax credit, so we post it as part of the cost.
Yes. We prepare the reconciliation and draft return for each client in your files and in your working paper format, and flag anything that needs a professional decision for your reviewer. See outsourced bookkeeping for accountants.
More ways we can help
All services- Bookkeeping for CPA FirmsWhite-label bookkeeping and GST/HST working papers for Canadian CPA firms, done in your files under your procedures.
- BookkeepingMonthly books for Ontario and BC businesses, reconciled, GST/HST-ready and closed on the same date every month.
- QuickBooks & XeroCanadian QuickBooks Online and Xero files set up for your province's sales taxes, kept current and reconciled every month.
Talk to us about your GST/HST
Tell us what you need. Your message goes straight to our accountants, and we aim to reply within one business day.