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Industry Specialties
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Are You HST Ready?
Legislation to enact the harmonized sales tax (HST) has been passed by the
Governments of Canada and Ontario. The HST will be applied on most supplies of
goods and services made in Ontario at a rate of 13%, consisting of the 5%
federal portion and an 8% provincial portion.
Businesses in Ontario that are registered for the goods and services tax
(GST) will be required to collect the HST and will report their HST according to
their current GST filing frequency. Retailers and service-providers should begin
to upgrade their point-of-sale, cost and accounting systems as early as possible
to ensure that they meet the implementation date of July 1, 2010.
HST will directly affect your Dynamics NAV or Dynamics GP software and you will
need to be ready for when the law goes into effect.
If you have questions about:
• Transitioning to Ontario HST
• Collecting Ontario HST
• Claiming the appropriate rebate
• Updating your Dynamics NAV or Dynamics GP system for HST
• Self assessment requirements
or anything else regarding getting your business HST ready, please call us toll free
at
(866) 801-0700 or by email at
mstranz@bdo.ca.
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