Canada GST HST Return 2024: Methods, When To File & What is Included?

GST HST is a Two types of tax which is paid by all the sellers of Canada who sell their services or goods. The Canada GST HST Return 2024 is important to be filed by all the permanent citizens, students and non resident citizens of Canada for the financial year of 2023 – 24. If you are a citizen of Canada and you are going to fill out your return for the financial year of 2023 – 24 you have to file your return on or before 15th June, 2024. The deadline for the payment is 30th April, 2024. You can read the complete article if you want to know about the complete details about when you have to file the Canada.ca GST HST Return 2024, how you can calculate your net income for tax, and what will be included in the return. 

Canada GST HST Return 2024

The government of Canada is providing several tax benefits and rebates to all the citizens of Canada to reduce the tax liability from them. The relaxation in tax will be given by the Canada revenue agency according to the income earned by the individual and their family during that financial year and total number of members available in their family. GST and HST are the national tax which will be paid by all the resident sellers of Canada for selling their services or goods. The government will provide a refund of this HST and GST tax to all those individuals who are financially weak and can not afford their tax burden so that they can use this amount for their family care. The refund amount will be credited by the CRA quarterly according to the Canada GST HST Return 2024 filed by the individual. If you filed the return your name for the refund will be automatically considered by the agency if you are eligible to get the benefit of refund. The refund amount will be directly credited into your bank account. 

What to include In Your Canada GST HST Return 2024?

You have to file your Canada GST HST Return 2024 according to the condition in which you belongs such as if you the amount of GST / HST is charged but you did not received it yet you will be liable to for GST / HST on the basis of the due date or date of payment received which is earlier, If you have charged the GST/HST and you were never paid for it, If you did not charge the GST/HST when you were supposed to, if you have not yet paid the GST / HST yet but you were charged, if you are running various business, if you sold the asset of business, if a table benefit is provided by you to a employee, if your income from taxable supplied fall lower the threshold. 

Canada GST HST Return 2024

When To file the canada.ca GST HST Return 2024

The due date to file the return will be decided on the basis of your reporting period. 

On the top of the Form GST34-2 the personalized due date for GST/ HST return will be shown. 

You have to file a Canada.ca GST HST Return 2024 even if you have:

  • no business transactions
  • no net tax to pay

If the due date falls on saturday, sunday or on a public holiday known by the CRA the payment will be considered received on the time if received on the next business day. 

Due date canada.ca GST HST Return 2024 Filing Deadlinecanada.ca GST HST Return 2024 Payment Deadline 
Monthly 1 month after reporting1 month after reporting
Quarterly 1 month after reporting1 month after reporting
AnnuallyThree month after the fiscal year Three month after the fiscal year 
Annually (Including with 31-12-2023 year)15th June 30th April 

Refund holds

You will be able to get any refund or rebate of GST / HST if you have to file a return for the Excise Tax Act, Income Tax Act,  Air Travelers Security Charge Act, but you did not file the Canada.ca GST HST Return 2024 till now. 

Methods To Calculate Your GST/HST Net Tax 2024:-

The method to calculate the net tax will be different on the basis of your situation and type of the business. Here are the types of situation: 

  1. For Most Businesses: Most of the businesses use the regular method in which the GST / HST will be calculated on the basis of each supply of taxable service or property. Most small businesses use a quick method of accounting to calculate the payment of HST & GST to reduce the paperwork. So there are two ways which can be used to calculate the net tax : 
  • Regular Method 
  • Quick Method 
  1. Charities: you need to use a different method to calculate the net tax as a charity. You paid the 60% of the total collected GST / HST, and claimed ITC on some items. If you use the net tax calculation assigned to the charities then specific rules will be applicable to claim ITC. Here are the rules which are given below: 
  • Calculating the net tax using the method assigned to charities 
  • If you choose not to use the method assigned to charities to calculate net tax 
  • If you are designated a charity, what other method for calculation do you use?
  1. Public service bodies: You must calculate your net tax for each GST/HST reporting period and report this on your Canada.ca GST HST Return 2024.
  2. Selected listed financial institution 

Ways To File canada.ca GST/HST Return 2024

There are various methods available to file a return which are electronically, paper or Telefile. Before filing a return you have to ensure if it is important to file a return online or by using which online method. Here is the list of methods which can be used to file return:

  • By Using GST / HST Netfile
  • By using My Business Account 
  • By using Represent a Client 
  • By using Electronic Data Interchange (EDI)
  • By using GST / HST Telefied 
  • Paper Filing 
  • Personalized GST / HST return Package 

After You file Your GST/HST Return 2024

Once the CRA received your return for  HST / GST the CRA will send you a notice if: 

  • CRA needs to give rebate or refund 
  • Or your due amount is more then the amount you paid

If your net tax amount is showing negative balance you can claim for a refund (GST / HST return line (109)

  • If you filed your return by using electronic method the GST / HST return will be proceed by the CRA with in 2 weeks 
  • If you filed your return by using paper method the GST / HST return will be proceed by the CRA with in 4 weeks

Records To Keep While Filing Tax

The taxpayer needs to keep all the records of business trading such as all purchase invoice, sales invoice, and all other records related to your GST / HST safe for the six years from the end of the year in which they relate. 

canada.ca GST/HST Return Filing Link

Canada GST HST Return 2024Canada.ca

FAQs On Canada GST HST Return 2024

What is the last date for filing Canada GST HST Return 2024?

15th June, 2024 is the last date for filing Canada GST HST Return 2024.

What is the payment deadline for Canada GST HST Return 2024?

30th April,2024 is the payment deadline for Canada GST HST Return 2024. 

What is the official website of CRA?

canada.ca is the official website of CRA.

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