It really is no fun when you are buying a product or service to have to pay a percentage of the money for it towards the GST/HST. While this is something that Canadian tax payers may have to do there is also some relief from this in many cases. These are called GST/HST rebates. This is where the Government will give you back some of the money you paid out for this particular type of tax.
Being as there are so many different types of GST/HST rebates they are easy to miss, or you could qualify for more than one type, and this where having your taxes done by a Toronto accountant can be instrumental in this area as well.
These types of rebates are often available to the non-resident just as they are for the Canadian residents. It is not unusual for a lot of people to give up claiming for their rebates because they either don’t know about them or they just find that claiming them is too complex and cumbersome. Of course there are rebate applications that have to be filled out and records that must be maintained in order to qualify.
There is also the misconception that you must be registered for the GST/HST rebates. This is true in many cases but not always. For example, for general rebates perhaps based on an error where you were charged HST on a non taxable item you could claim this back without having to have been registered. The same applies if it were imported goods that were taxed that won’t be used in a province where this is applicable.
There is quite a lengthy list of GST/HST rebates and when you put your tax matters in the hands of a Toronto accountant this is one of the areas of your taxes that he will look at.
What is really important to realize is that the GST/HST is just one of several ways that you may qualify to get some money back that you have had to pay out in taxes, or reduce the amount of taxes that you have to pay when it comes tax return time. This is one of the main reasons why using the services of a Toronto tax accountant is so beneficial. Plus, once you do, then you will soon realize that there are many other benefits to using this type of service as well.
