News and Insights

CRA Updates Guides

Tax Development Feb 05, 2016

Most Canadian businesses will benefit from reviewing the updated CRA Guide RC4022, “General Information for GST/HST Registrants”, which provides useful information on collecting, recording, calculating and remitting the GST/HST.

In addition, a business, other than a qualifying non-profit organization, municipality, hospital authority, charity, university, public college or school authority, may be interested in the option to use the quick method of accounting as described in revised CRA Guide RC4058, “Quick Method of Accounting for GST/HST”. However, the organizations listed above may use “The Special Quick Method of Accounting for Public Service Bodies, as discussed on the CRA website.