HST And Bookkeeping Services in Canada

HST Services

A Harmonized Sales Tax (HST) of 13% came into effect in the Province of Ontario on July 1, 2010. The HST is a combination of the Goods and Services Tax (GST) of 5% and the provincial component of 8%.

The HST Services is administered by the federal government through the Canada Revenue Agency (CRA). As a result, registrants (businesses or individuals registered to collect the HST on taxable sales) collect one sales tax and remit and report to one government agency.

Bookkeeping Services

Bookkeeping services are necessary for all businesses to ensure accurate operational/financial information. Such information is required by Management, Regulators, and Investors. Also, it is a legal requirement for any business to maintain an appropriate book of accounts to ensure that all relevant taxes are paid and tax filings are made on time.

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