GOODS SERVICES TAX

The Goods and Services Tax, or GST, is the federal value-added tax (VAT) that applies to purchases of most goods and services by consumers in Canada. In international tax language, it is referred to as a value-added tax or VAT. The GST rate of 5% is paid by a final consumer on the purchase price of any non-exempt product or service. A business that is registered for GST and that pays GST on goods and services that it purchases that are required for commercial activity may claim an input tax credit, which ensures that the tax is only paid by the final consumer... The Goods & Services Tax (GST)/Harmonized Sales Tax (HST) is a value added tax that became effective in Canada on January 1, 1991 and which replaced the then existing 13.5% Federal Sales Tax, a hidden tax on manufactured goods... A Toronto Tax Lawyer can help you with your sales tax, GST, and HST concerns like tax extensions. Visit our website and speak to our lawyer today.

Also known as: Good Service Tax

Primary location: Toronto