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Index of Subjects Hi all, On Wed, 5 May 1999, Doug McCann wrote: > Carefull on how you interpret the "$50,000" limit. > > It is my understanding that the $50,000 is not a 'deductable', i.e. > subtract from gross revenue to determine the proportion on which tax is > due. I understand it is a classification, with some organizations above > and below the threshold. Those below are not required to register and > collect the HST. Those above must register, collect and remit the HST. > (Actual net HST - HST collected minus HST paid, or, the value computed > from the flat rate method). This is exactly my understanding as well. Below 50,000 no HST has to be remitted. Above that the 15% must be (with 7.5% clawback as Doug pointed out). Between 50,000 & 54,000 the 7.5% paid results in a net loss (i.e. the net amount we retain is less than $50,00). Above circa 54,000 the net we retain is again over 50,000 so there is no net loss to the organization, we are simply paying the 7.5% GST. Cheers, Chris _._.._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._. Christopher Majka <aa051@chebucto.ns.ca> Editor-in-Chief: Chebucto Community Net - Halifax, Nova Scotia, Canada URL = http://www.chebucto.ns.ca/Home.html "We have ... in this country ... far too many captive editors who cannot even be heard to rattle their chains." -- Carl E. Lindstrom _._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._.
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