GST and QST Return: Regular or Quick Method | Self-Employed Individuals — Completing the Excel File

How do you prepare a GST and QST return as a self-employed individual? Explanatory article : https://impotax.org/en/advice/the-gst... This video explains: • the $30,000 threshold and the requirement to register for GST and QST; • the difference between taxable, zero-rated, and exempt sales; • monthly, quarterly, and annual reporting periods; • how to enter sales and expenses in the Excel workbook; • how to calculate GST and QST using the regular method; • input tax credits (ITCs) and input tax refunds (ITRs); • the eligibility requirements for the Quick Method; • the rates and 1% credit available under the Quick Method; • how to treat current expenses and capital property; • a comparison of the results under both methods; • the main errors to avoid before filing a return. Download the free Excel workbook and view additional information: https://impotax.org/en/advice/the-gst... Additional tax resources: https://impotax.org/    / @impotaxcpa   This video provides general information and is not a substitute for an assessment tailored to your specific situation. Tax rules may vary depending on the nature of your activities, the transactions carried out, and each business’s circumstances. Always confirm the applicable requirements with the Canada Revenue Agency and Revenu Québec. #GST #QST #SelfEmployed