Quote:
Originally Posted by La Flames Fan
Thanks all...
So basically the answer to my question is that if you made over $30,000 and you didn't have a GST or BN they can go back and say pay us, even though I never charged GST?
And I'd like to punch my accountant for not picking that up at the time. This is ugly.
|
Only the year or quarter
after you made your first $30,000. Meaning not for the first $30,000 but for money made the next year or quarter. I am pretty sure this is correct or I will owe some money from my first year as well. Which was about 4 years ago and since I have done a tax return each year and have not been charged GST for the first year, I think that is how it works.
So to answer the question if you have been operating for two years and made $30,000 or more in the first year you would be liable for GST only on services in the second year.