The Canada Revenue Agency (CRA) has made changes that will affect the information you will require to file your GST/HST returns going forward. Going forward, if your business reports sales that include zero-rated supplies made in Canada, exempt supplies, and zero-rated exports, these items will now be reported separately on your electronic GST/HST return. Before May 16, 2016, you included such sales as one amount on line 101 of the return. According to the CRA, they will use this additional information to properly determine your filing frequency and any mandatory electronic filing requirements that apply.
As a result, three new lines are available for reporting:
- Line 90 is for reporting taxable sales (including zero-rated supplies) made in Canada.
- Line 91 is for reporting exempt supplies, zero-rated exports, and other sales and revenue.
- Line 102 is for reporting, when applicable, an associate’s taxable sales (including zero-rated supplies) made in Canada.
These changes will now require you to be able to mine taxable, exempt and zero-rated sales from your accounting package for accurate reporting. In addition, with line 102 requesting any associate’s taxable sales, this may require your business to stay on top of the bookkeeping.
If you have any questions on the above changes, you can contact DJB’s GST/HST team for further information.
Article written by: Greg Sawatsky, MAcc, CPA, CA