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Tax Implications & Updates During COVID-19

Tax Implications & Updates During COVID-19

During these uncertain times of the COVID-19 pandemic, there are many new and unprecedented challenges we find ourselves facing and adapting to. Although the health and safety of everyone are of the utmost importance there are also significant financial issues and updates being discussed daily by both the Provincial and Federal governments. With new information [...]
Alberta 19/20 Budget Announced

Alberta 19/20 Budget Announced

Alberta announced its 2019/20 budget on October 24.  Here are the major commodity tax changes proposed. Tourism Levy Short-term rentals (STRs) offered through online marketplaces, such as Airbnb, HomeAway, and Vacation Rental by Owner (VRBO), are an increasingly popular accommodation option in Alberta. While the province applies a tourism levy of 4 percent on most […]

BC Budget 2018

BC Budget 2018

It’s that time of year again. Government budget season is upon us.  BC is the second province to bring down a budget this year. The focus of their budget was child care, affordable housing and services.  There was some provincial sales tax (PST) changes announced to help fund these initiatives.   BC imposes a tax on […]

RITCs- It’s almost over!

RITCs- It’s almost over!

A corporation that makes in excess of $10,000,000 in revenues annually are considered by the Canada Revenue Agency to be a large corporation for GST/HST purposes.  Large corporations are restricted from claiming input tax credits on the provincial portion of the HST in Ontario on telecommunications, electricity, most types of fuel, meals and entertainment and [...]
Saskatchewan PST- DATES TO REMEMBER

Saskatchewan PST- DATES TO REMEMBER

In our last post, we told you about the PST rate increase that happened on March 23, 2017. In announcing this increase, Saskatchewan outlined two other dates that you need to be aware of. APRIL 1, 2017 Effective April 1, 2017, chances are the value of a trade-in will not deductible from the purchase price […]

Saskatchewan PST Surprise!

Saskatchewan PST Surprise!

It’s Been Almost a Month Since: Saskatchewan changed its Provincial Retail Sales Tax (PST) rate from 5% to 6% effective March 23, 2017. Have you and your Company’s systems caught up to this? The rate of PST in Saskatchewan on all taxable sales is now 6%.   That means that goods purchased on or after midnight [...]
BC PST:  A Picture is worth 1000 Words, but can it prove Delivery?

BC PST: A Picture is worth 1000 Words, but can it prove Delivery?

British Columbia (BC) has issued a revised Provincial Sales Tax Bulletin PST 116:  Motor Vehicle Dealers and Leasing Companies.  This bulletin addresses various transactions that might be undertaken by these Companies and the applicability of the BC PST.  The majority of the Bulletin is rewording of existing administrative policies followed by BC with respect to [...]
HST Rate Cut, A Case of Misdirection?

HST Rate Cut, A Case of Misdirection?

Last week the Liberal government in its throne speech announced that it would provide some HST relief to Ontario residents by providing an HST Rate Cut by rebating back the provincial portion of the Ontario HST. This rebate is available to consumers and small businesses effective January 1, 2017. The first question is why a [...]
Thankful for the PEI HST Rate Increase?

Thankful for the PEI HST Rate Increase?

October is only a few weeks away and in Canada, that means Thanksgiving, leaves turning a variety of colours, leaves needing to be raked and Halloween candy starting to hit the stores and if you are in Atlantic Canada, primarily Prince Edward Island(PEI) it means you have an HST rate increase that is about to [...]
BHA Newsletter: Help your Firm Find Money Today

BHA Newsletter: Help your Firm Find Money Today

Our quarterly newsletter will be coming out this month offering insights into areas of compliance with respect to Canadian indirect tax and our section on indirect tax recovery will offer companies tips on how you can do your own Canadian sales tax reviews today and find money for your organization. To subscribe to our newsletter [...]
When is the Ontario Sales Tax Holiday?

When is the Ontario Sales Tax Holiday?

Don't you think people in Ontario need an Ontario Sales Tax Holiday, similar to the one's found south of the border? Did you know that between August 5-7th of this year the State of Missouri had a sales tax holiday on all computer software costing $350 or less or that Texas has an annual sales [...]
What is Canadian Harmonized Sales Tax?

What is Canadian Harmonized Sales Tax?

Canadian HST or Harmonized Sales Tax is a combination of the federal GST and provincial PST imposed in 5 of the 13 provinces and territories in Canada.  The rate of HST varies between 13% -15% and applies on most goods and services supplied in the participating provinces.  Currently, the following provinces impose an HST:  Ontario, New […]

What is Canadian Sales Tax?

What is Canadian Sales Tax?

Canadian Sales Tax refers to the combination of federal and provincial sales taxes that are imposed on the sale or purchase in Canada of most goods and services.  Canadian sales Tax includes federal goods and services tax (GST), Harmonized Sales Tax (HST) and Provincial Sales Tax (PST or sometimes, "RST"). The rates of tax will [...]
Canadian Sales Tax Rates

Canadian Sales Tax Rates

Canadian Sales Tax Rates include a Federal GST which is included in all the HST rates in Canada, only Alberta, the Yukon, the Northwest Territories and Nunavut charge the Federal tax alone. The Provinces of Ontario, Newfoundland, New Brunswick, Nova Scotia and PEI charge an HST rate, Quebec charges a QST rate separately with the […]

Tax Education, One of the Ingredients in our Success

Tax Education, One of the Ingredients in our Success

At B. Hoffmann and Associates we pride ourselves in our teams commitment to continuously expand our tax knowledge. We do this by reading daily updates in tax legislation and various court decisions impacting indirect tax in Canada. Members of our team are always looking to expand on their tax education, so that we can better […]

New Brunswick HST Rate Increase Transitional Rules

New Brunswick HST Rate Increase Transitional Rules

Are you ready for the increase in the New Brunswick HST Rate on July 1st? The following table outlines whether 15% HST applies or 13% on transitions that straddle the July 1, 2016 implementation date: New Brunswick HST Rate Increase Transitional Rules TRANSACTION DESCRIPTION RATE BEFORE JULY 1, 2016 RATE ON OR AFTER JULY 1, [...]
Indirect Tax Highlights from the Federal Budget 2016

Indirect Tax Highlights from the Federal Budget 2016

It’s that time of year again. The federal budget 2016 has been announced.  I watched it…I thought for sure that the Liberal government would actually want to increase government revenues to help pay for the all the things that they promised.  And I thought, a GST rate increase was the way that they would do […]