Make sure your refunds and rebates aren’t held back. File your GST/HST returns!
As a GST/HST registrant, you are likely familiar with your responsibility to collect, report, and remit GST/HST on taxable supplies. But, did you know that you are required to file a GST/HST return with the Canada Revenue Agency (CRA), even if you do not have any GST/HST to report or remit for a particular filing period? That means if you temporarily stop your business, you still need to file your GST/HST returns.
If you have not filed your GST/HST returns, any refund or rebate you are entitled to will be held until we receive your required returns. This includes your T2 corporation income tax refund if you are a corporation, and your T1 personal income tax refund if you are a sole proprietor or partnership.
It’s important to keep your taxes on track to receive the refunds and rebates you’re entitled to receive, when you’re expecting to receive them.