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HST remittance filing for Newfoundland and Labrador 2020-2023

Calculate the HST to pay, quick method

Payment for sole proprietorships (self-employed), corporations or other businesses who has his permanent establishment in Newfoundland and Labrador using the quick method of accounting. You simply need to fill your business type and your income before Harmonized sales tax where you charged the HST.

+ + = - - =

How to calculate HST to remit in Newfoundland and Labrador

In every formula mentioned above, the business has is permanent establishment in Newfoundland and Labrador has supplies sales in Newfoundland and Labrador for 90% or more of his sales.

HST calculation formulas

From the income before sales taxes, you need to calculate the income including HST.

Income including HST

Income before taxes x (1+(HST rates/100)) = Income with HST
Example: 10000$ x (1+(15/100)) = 11500$

Formulas to calculate the taxes to pay

From the amount of income with taxes, simply multiply by the quick method remittance rate

HST remittance

Income with HST x (HST remittance rate/100) = HST remittance amount
Example: 10000$ x (10/100) = 1000$

Credit calculation formulas

HST's first $30,000 gross income before HST is eligible for 1% credit

Income is lower than $ 30,000

From the income with HST you must multiply the gross business income with HST taxes by the credit rate

HST credit

Income with HST x (1/100) = HST credit
Example: 10000$ x (1/100) = 100$

Income is higher than $ 30,000 but less then 400 000$

You can only use the first $30 000 of income with HST and multiply it by the credit rate

HST credit

First $30 000 of income with HST x (1/100) = HST credit
Example: $ 30 000 x (1/100) = 300$

Negative amount of remittance

In certain specific circumstances, the amount of remittance could be negative. You could apply the negative portion of the amount to other business supplies if applicable. Otherwise, the amount must be zero.

Conditions for the Quick Method of Accounting in Newfoundland and Labrador

To be eligible for the quick method, annual taxable sales for 2020-2023 must not exceed $ 400,000, HST included.

Not to be included in the quick method

  • All tax-free (zero-rated) sales (such as those made outside Canada)
  • The amounts of sales of buildings and fixed assets
  • Sales to Native American

HST electronic filing

You can easily fill HST online by visiting the E-services for business of the Revenue agency of Canada.

Filing due dates

You must file a HST return even if you have no business transactions and no net tax to remit

Each business has his own due date of payment and filing based on their reporting period or HST/HST filing period. Here is a list of condition base on the filing periods:

  • Monthly and Quarterly: Filing and Payment deadline are one month after the end of the reporting period.
  • Annually (except individuals with business income with a december 31 fiscal year): Filing and Payment deadline are 3 months after the end of the reporting period.
  • Annually (individuals with business income with a december 31 fiscal year): Filing date is June 15th and Payment deadline is April 30th the year following the end of the reporting period.

Rates used for HST remittance

The HST remittance standard rate for business with permanent establishment in Newfoundland and Labrador and supplies 90% or more in province where 15% of HST applies is 10%. This rate applies to income for the year anywhere from july 1st 2016 to 2023 based on the reporting period chosen.

For retailers and wholesalers1 in the same situation, the HST remittance rate is 5%.

List of rates base on PE location and Supplies location

Supplies wherebusinesses that provide servicesbusinesses that purchase goods for resale (BPGR)BPGR credit
GST at 5%1.4%0%4% (for 0% BPRG)
HST at 12%7.6%2.5%0
HST at 13%8.4%3.3%0
HST at 14%9.2%4.2%0
HST at 15%10%5%0

1 Goods purchased for resale represent 40% or more of the total annual taxable supplies, view rates from Government of Canada

2 1% credit is available on the first $ 30,000 for GST.
This rate must be applied to the amounts including the related taxes, GST for GST and HST for HST, for 2023 income's or for the reporting period chosen.

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