Articles by: Sohail Afzal

Category: Sohail Afzal

When to Charge HST and GST in Canada if You’re a Contractor

Running your own contracting business is not easy when you don’t have enough knowledge regarding the taxes. As an owner of a business, you have to be responsible for all your expenses, tax payments, and other legalities. But don’t worry, we will tell you the nitty-gritty details of the HST (harmonized sales tax) and GST…
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What are the GST/HST Self-Assessment Rules?

Self-Assessment refers to the process of calculating and filing your GST/HST returns on your own. Although it may sound much easier than it is, you can always consider taking professional assistance in this regard. There are provincial rules. Then there are different territorial rules that apply when you are a non-registrant or a non-resident. Read…
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Who is an Investment Accountant, and What Do They Do?

Accounting is a broad spectrum of financial management services. All of the services that come under accounting vary with each business function. And when we combine these business functions and their financial management, a consolidated business process is created. Usually, a senior or supervisor accountant is a person in any organization responsible for overlooking all…
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4 Strategies for a Small Business in Canada to Reduce Income Tax

There are approximately one and a half million small businesses in Canada right now. The reason for such a significant number is the Canadian rules and regulations for small businesses. There are many official and legal ways to expand your small business in Canada. You can lower or reduce your small business income tax as…
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How Can I Pay My HST in Canada?

Harmonized Sales Tax (HST) is a consumption tax that is paid by the consumer and the business at their point of sale. The vendor is usually the responsible person for collecting HST from their customers and then remit it to the CRA. The rates for HST vary with provinces and territories in Canada. Some of…
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How Does HST Apply to Cryptocurrencies?

The rise of cryptocurrencies was duly acknowledged by CRA in 2014. We all know how cryptocurrency has changed the meaning of digital assets permanently. There are many businesses that have already made millions or even billions of dollars by making investments in cryptocurrencies. The important discussion here is about the taxation of cryptocurrencies. Whether Bitcoin,…
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What is HST (Harmonized Sales Tax) in Canada?

People often confuse Harmonized Sales Tax (HST) with Goods and Services Tax (GST) in Canada. But the difference between the two is that GST comes under the HST. Although both are the type of consumption taxes, HST is a combination of GST and Provincial Sales Tax (PST). Where PST relates to the provincial rules in…
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How Much Does a Real Estate Accountant Cost in Canada?

There has been a revolution in the accounting and bookkeeping services in Canada and neighbouring countries in the last few decades. There were times when accountants or bookkeepers used to carry a pile of bulky files around the office and sit there for extended hours with their noses buried in those books. But nowadays, like…
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A Guide to Corporate Tax in Canada

As a business owner, you may have to deal with several types of tasks on your own. There are times when you, as the owner, will also have to do tasks that you never thought you would end up doing. We have all been there. But never should come a time when a business owner,…
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Who Are Real Estate Accountants and What do They Do?

We all know real estate business can turn out to be quite fruitful in Canada. But this is not something that everyone can do. Those who have sold or bought a property in Canada have only a slight idea about the dealings of the real estate market. Once you get in the full canvas of…
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