If you are running your business in Canada, you are no doubt familiar with billing and collecting GST (Good and Services Tax) and QST (the provincial sales tax in Quebec).
If your business collects more than $1500 per year in GST, then you are responsible for submitting your GST to the Minister of Revenue on a quarterly basis. This means that you must estimate based on the previous year's sales what your GST remittance should be for the current year. Should you underpay or not provide the quarterly payments at all, the government will subject you to penalty and interest charges.
Clearly it's important to file your GST payments in a timely and accurate fashion, but many business owners can't navigate the government paperwork. The same holds true on the provincial tax side of business in Quebec. Late payments result in interest and penalties, something few businesses can afford.
Montreal Bookkeeping is familiar with the tax system in Canada and can help you navigate the confusion. Time can be better spent taking care of your business and helping it grow.
