what is the difference between gst and hst in canada?
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The GST applies nationally. The HST includes the provincial portion of the sales tax but is administered by the Canada Revenue Agency (CRA) and is applied under the same legislation as the GST. The HST is in effect in Ontario, New Brunswick, Newfoundland and Labrador, Nova Scotia and Prince Edward Island.
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There are numerous differences between GST and the previous system ranging from the levies, taxes, exemptions, validations, and more. Under the old taxation system, the central taxes applicable were custom duty/central excise duty, central sales tax on commodities and services, surcharge and cesses.
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In Quebec, the most common sales taxes are the: GST, which is calculated at a rate of 5% on the selling price. QST, which is calculated at a rate of 9.975% on the selling price excluding the GST.
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CST means Central Sales Tax. CST/VAT is charged on sale of goods immediately up on preparation of Sale Invoice or immediately when goods are moved for sale. GST is charged on goods and services at the end stage of distribution of goods. Many indirect taxes including CST are being eliminated and merged with GST.
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"If you are a non-resident visitor to Canada, you cannot claim a rebate of the goods and services tax/harmonized sales tax (GST/HST) that you paid for all purchases made in Canada. ... You can read about it here, http://www.cra-arc.gc.ca/visitors/ but, as stated above, the answer is you will get nothing back.
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The Harmonized Sales Tax (HST) is 13% in Ontario. Ontario provides relief on the 8% provincial portion of the HST on specific items through a point of sale rebate.
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Every person who enters Canada for the purpose of making taxable supplies of admissions to a place of amusement, a seminar, an activity, or an event, regardless of whether that person is carrying on business in Canada or qualifies as a small supplier, must register for the GST/HST before making such supplies.
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The goods and services tax/harmonized sales tax (GST/HST) credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay. It may also include payments from provincial and territorial programs.
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With the HST, basic groceries such as meat, potatoes, fruits and vegetables escape the HST, but once items are put in packages and processed somewhat, the tax applies. ... Prepared food and drink sold for less than $4 will not be charged the eight-per cent Ontario portion of the HST.
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Service tax was levied on “provision of services” while GST will be levied on supply of services. ... Krishna: Arjuna, in Service tax the rate is 15%, while in GST the rate of tax on services might be 12% or 18%. The rate of tax on Services will be defined according to the Service Accounting Code.
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Current GST and PST rate for British-Columbia in 2019 The global sales tax for Bc is calculated from provincial sales tax (PST) BC rate (7%) and the goods and services tax (GST) in Canada rate (5%) for a total of 12%.
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Rates. The federal GST rate is 5% and the HST rate is 13% for goods and services supplied in the provinces of NB, NL and ON, 14% for PEI and 15% for NS. The QST rate is 9.975%.
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Generally, Canadian residents age 19 or older are eligible to receive the federal GST/HST credit, which is paid quarterly to eligible recipients. Those under 19 may be eligible, if they have (or previously had) a spouse or common-law partner, or if they are a parent and they reside with their child.
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Yes, you read right. When it comes to meals and entertainment, you cannot claim the full GST or HST amount. ... The first tax you set up will track the amount of HST you're entitled to receive as a refund (CRA calls it Input Tax Credit). The other tax you set up will treat the non-deductible portion as an expense.
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However, you don't have to pay any sales tax if the home was previously owned. The GST/HST also applies to all the services you pay for, such as your lawyer, home inspector, movers and real estate agent's commission.
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You are generally eligible for the GST/HST credit if you are considered a Canadian resident for income tax purposes the month before and at the beginning of the month in which the Canada Revenue Agency makes a payment. You also need to meet one of the following criteria: you are at least 19 years old.
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The tax is a 5% tax imposed on the supply of goods and services that are purchased in Canada, except certain items that are either "exempt" or "zero-rated": For tax-free — i.e., "zero-rated" — sales, GST is charged by suppliers at a rate of 0% so effectively there is no GST collected.