David Rotfleisch’s articles from Rotfleisch & Samulovitch P.C. are most popular:
- within Tax topic(s)
- with Senior Company Executives, HR and Finance and Tax Executives
- in Canada
- with readers working within the Accounting & Consultancy, Aerospace & Defence and Securities & Investment industries
GST/HST Quick Method of Accounting
Some Canadian small businesses may be eligible for a simplified method of filing their GST/HST returns. They be able to elect to use the quick method of GST/HST accounting when filing their GST/HST tax returns. Small businesses that elect to use the quick method do not need to report actual GST/HST paid or payable on most purchases (input tax credits or ITCs) as GST/HST calculations are simplified by using quick method remittance rates without having to specifically track input tax credits.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
[View Source]