Registered businesses must file GST returns with CRA on an annual, quarterly or monthly basis depending on their annual sales. The quarterly and monthly returns must be filed within one month of the reporting period. An annual return is due June 15th for an individual (note GST balance owing is due April 30th) or 3 months after the end of the business’ fiscal year.
In certain situations, it may be advantageous to file more frequently than CRA requires, particularly if the business usually receives a GST refund. This may happen if the business sells a large portion of ‘zero-rated supplies’, where GST is not collected but ITCs can still be claimed.
As with most types of tax, there are special rules and requirements that may apply to certain businesses.
Please contact us for a consultation if you require assistance regarding your business’ GST.
When is the GST return due?
