Скачать или смотреть Goods and Services Tax (GST-HST) Introduction and Basics

The video provides an overview of the Goods and Services Tax (GST), a value-added tax applied to most goods and services in Canada. It explains that the tax burden primarily falls on the ultimate consumer, while businesses act as agents for the Canada Revenue Agency (CRA) by collecting and remitting the tax. Furthermore, the text details how provinces may impose a provincial sales tax (PST), which in some regions is harmonized with the federal GST to create the Harmonized Sales Tax (HST). Businesses must register for a GST/HST account if they are not considered a small supplier, and they can recover the tax paid on business expenses through Input Tax Credits (ITCs). Finally, the information addresses the various reporting periods for the tax, which are determined by a registrant's total taxable supplies.