10 IMPORTANT RULES ABOUT GST/HST ACCOUNT FOR YOUR BUSINESS
If you are operating a business in Canada, you need to know about the Goods and Services Tax (GST) and the Harmonized Sales Tax (HST) and you MUST charge GST/HST unless your business qualifies as an exception. We summarized general basic rules of GST/HST that each business owners should know. However, type of business and location that you are operating may have different rules and exemptions. 1. GOOD and SERVICES TAX (GST)/ HARMONIZED SALES TAX (HST): GST is a tax that appli
TYPES OF BUSINESS ORGANIZATION STRUCTURES IN CANADA
If you are in process of starting your business, you need to know which organization structure meets your needs and aligns with your business goals and objectives. Generally, there are three types of business structures: Sole Proprietorship, Partnership and Corporation. SOLE PROPRIETORSHIP: The Sole Proprietorship is the simplest and cheapest method of organizing your business. Some of the features for a Sole Proprietorship as following: Owned by one individual Could be any
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