Web Watch @ Your Library #78 - April 2010 - Other back Issues

The New HST TAX in Ontario and General Personal Tax Information

Wow - where did March go? Sorry, somehow March's Web Watch was not sent out - so, you get to enjoy it in April!

The HST (Harmonized Sales Tax) will take effect on most purchases and transactions in Ontario and British Columbia on July 1, 2010.  In Ontario, the HST will be 13% (5% GST plus 8% provincial tax).  It will be administered federally. You can learn more about this new tax by visiting some of the web sites below. Also listed are some links to web sites that can help with the annual chore of completing your income tax return.

BDO Canada
BDO Canada, a major Canadian accounting and financial advisory company, defines the HST and provides various tax bulletins and articles about Ontario’s new tax.

The Canadian Revenue Agency and the HST
The Canadian Revenue Agency (CRA) will administer the new HST.  Find out which goods and services the HST will apply to and what’s exempt, and how & when to make HST payments for businesses, construction companies, public services and charities. 
The electronic filing / reporting of HST/GST’s is addressed on the CRA web page:
http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/bspsbch/rtrns/rqrmnts/menu-eng.html

The Ontario Ministry of Revenue
The Ontario Ministry of Revenue web site provides further details about the HST and about other provincial taxes that may apply to you, your family, or your business. (Click on “Ontario’s Tax System”.)  

Changing from the RST to the HST
The Ontario Ministry of Revenue also provides information addressing the transition from the RST (our current Ontario Retail Sales Tax) to the HST.

General Canadian Tax Information:
Introduction to Canadian Taxes
If you’d like to learn about the very basics of the Canadian tax system, the Canadian Revenue Agency offers the online module “Introduction to Canadian Taxes”.

Canadian Revenue Agency
This is the place to look if you need to access personal tax information, EFILE, NETFILE, GST/HST NETFILE, information about charities and giving, child and family benefits, and more.

CanadaBenefits.gc.ca
Parents, seniors, students, people with disabilities and others can learn about the benefits which may apply to them at CanadaBenefits.gc.ca.

Service Canada
The Service Canada web site will also link you to information about various benefits eg. pension plan benefits, the Canadian Child Tax Benefit, parental benefits, the Employment Insurance Family Supplement, RESP’s, etc.

Taxtips.ca
Taxtips.ca offers up-to-date, accurate and practical tax information to Canadians.

Tax-Services.ca
The chartered accounting firm KJ Accounting offers this useful online resource, which provides various tax tips, strategies and calculators for personal and business taxes.