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Index of Subjects >>> Edward Dyer <aa146@chebucto.ns.ca> 05/05/99 11:48AM >>> Hi Doug, Doug, and 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 ... a classification, with some > organizations above and [some] below the threshold. >>Is it an annual limit or cumulative from the organization's day 1, l>>like the FST and perhaps the PST used to be? The organization will collect and remit HST if projected gross revenue (from services) in the 12 months following start of charitable status exceeds $50,000. Remittance is usually on a quarterly basis for small organizations. Larger organizations remit monthly. So, if we started on 1 January, Revenue Canada would have expected a remittance on 1 April. If our 'service' component is projected to be less than $50,000 from 1 January to 31 December, then it is a mot point. However, if we are registered as an organization that is collecting HST, it may still have to be remitted, even if the threshold of $50,000 is never reached. I'm not up-to-date on all the rulings and regulations so the above should be verified with the tax man. Doug McCann
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