Paying taxes may be a groan-worthy concept under the best of circumstances – but it’s a whole other ball game when you’re self employed. No longer relegated to springtime tax season, freelancers need to keep their tax requirements top-of-mind year-round. We’ve got a few pointers to help you navigate the world of receipt hoarding, harmonized sales tax and write-offs with a little less pain – and potentially more profit for you!
Although the Harmonized Sales Tax was implemented on July 1, 2010, many Ontarians are still unaware of how this impacts homebuyers. Here’s a quick summary.
It’s been a year now since the Harmonized Sales Tax (HST) came into effect in Ontario and British Columbia. So how have residents in two of the country’s most populous provinces fared by dishing out extra tax dollars on most of the products and services they pay for?