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Indians are tax exempt on the provincial portion of the HST (8%) when they present their tax status card. For more details on this follow this link to the government communique about Indian tax status in regards to the HST:
http://www.rev.gov.on.ca/en/taxchange/firstnations.html
What else can I help you with?
Not tax exempt do i tax this?
Not tax exempt would mean that it is subject to taxes. Yes you would tax any thing that is not exempt from taxes in your business operation.
Do you need to show the HST number on receipts?
Yes, businesses registered for the Harmonized Sales Tax (HST) in Canada are required to show their HST number on receipts issued to customers. This ensures transparency and compliance with tax regulations, allowing customers to verify the tax charged and claim input tax credits if eligible. Including the HST number on receipts is important for both the business and the customer in maintaining accurate tax records.
Is insulation tax exempt?
NO. Insulation material is not exempt from income tax.
Is a LC small business tax exempt?
LC business be TAX EXEMPT NO NOT POSSIBLE FOR ANY TYPE OF LC BUSINESS TO BE TAX EXEMPT.
Why is gift certificates HST exempt?
Gift certificates are HST exempt because they are considered a form of payment rather than a good or service. When a gift certificate is purchased, the transaction does not involve the provision of a taxable good or service; instead, it represents a promise to provide goods or services in the future. Consequently, HST is applied only when the gift certificate is redeemed for actual goods or services, not at the time of purchase. This treatment aligns with the principles of taxation, ensuring that tax is only applied to the final transaction where value is delivered.
What is the HST all about?
HST stands for Harmonised Sales Tax and is the combination of GST (General Sales Tax) and PST (Provincial Sales Tax)
Not tax exempt do i tax this?
Not tax exempt would mean that it is subject to taxes. Yes you would tax any thing that is not exempt from taxes in your business operation.
Do you need to show the HST number on receipts?
Yes, businesses registered for the Harmonized Sales Tax (HST) in Canada are required to show their HST number on receipts issued to customers. This ensures transparency and compliance with tax regulations, allowing customers to verify the tax charged and claim input tax credits if eligible. Including the HST number on receipts is important for both the business and the customer in maintaining accurate tax records.
Is insulation tax exempt?
NO. Insulation material is not exempt from income tax.
Is a LC small business tax exempt?
LC business be TAX EXEMPT NO NOT POSSIBLE FOR ANY TYPE OF LC BUSINESS TO BE TAX EXEMPT.
Why is gift certificates HST exempt?
Gift certificates are HST exempt because they are considered a form of payment rather than a good or service. When a gift certificate is purchased, the transaction does not involve the provision of a taxable good or service; instead, it represents a promise to provide goods or services in the future. Consequently, HST is applied only when the gift certificate is redeemed for actual goods or services, not at the time of purchase. This treatment aligns with the principles of taxation, ensuring that tax is only applied to the final transaction where value is delivered.
When were tax-exempt MMMFs created?
Tax-exempt MMMFs debuted in 1979
What are the IRS Tax exempt codes?
IRS tax exempt codes are codes that are given to businesses that are tax exempt. These businesses include non-profit organizations.
Are computers tax exempt under the Virginia tax holiday?
No, only items under $100 dollars are exempt in VA's tax exempt holidays. I wish they were!
How does the government collect GST?
In Canada it is the registrants who collect GST/HST from the people to whom they provide their goods and services. Depending on their filing frequency of thier GST/HST returns (monthly, quarterly or annually), they indicate the amount of GST/HST that they have collected as well as the GST/HST that they paid as inputs to their commercial activity (input tax credits). The input tax credits are deducted from the GST/HST collected and the balance (positive or negative) becomes their net tax. They then either remit (if a positive amount) or claim their "refund" (negative amount). The government doesn't actually "collect" the tax, they receive it from their tax collectors...the GST/HST registrants.
How do you exempt tax refunds?
Exempt them from tax? Federal refunds were paid with after tax $ and aren't taxable..but they are reported. State ones are, as you got a deduction for them when paid. There is no option to exempt them.
Is HST Recoverable a debit or credit balance?
HST (Harmonized Sales Tax) recoverable is recorded as a debit balance in accounting. This reflects the amount of HST paid on purchases that a business can claim back from the tax authorities. Essentially, it represents an asset for the business, as it signifies future cash inflows when the tax is reclaimed.
