Estimate the amount of GST/HST payable using the Quick Method of accounting
Business is considered to purchase goods for resale if the cost (including GST/HST) of goods (other than basic groceries and other goods for which you did not pay tax) purchased in the previous fiscal year for resale, or used in goods produced or manufactured for resale, must be at least 40% of total revenue from annual taxable supplies (including GST/HST) for that fiscal year.
Applicable to quarterly and monthly filers only
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