dslreports logo
site
 
    All Forums Hot Topics Gallery
spc

spacer




how-to block ads


Search Topic:
uniqs
6
share rss forum feed

peterboro
Avatars are for posers
Premium
join:2006-11-03
Peterborough, ON
reply to iLearn

Re: Square Users?

said by iLearn:

They required my HST # when I singed up for the card reader and I have linked my personal account for deposits. Was it not the right way to do it for tax reporting purposes?

I don't know why the HST is required considering there is no legal obligation to have one for certain businesses and a personal account is fine for a sole proprietor.


Gone
Premium
join:2011-01-24
Fort Erie, ON
kudos:4

said by peterboro:

I don't know why the HST is required considering there is no legal obligation to have one for certain businesses and a personal account is fine for a sole proprietor.

Maybe they want the CRA BN and not actually the HST number? The BN itself doubles as an HST number (along with a payroll account number) with a program identifier tacked on the end.

Still, a sole proprietor doesn't require a CRA BN either, so I don't know. There were stories about Cogeco asking for BNs for business cable account signups and my response to the people who said they had it happen was to tell Cogeco that they are a sole proprietor with less than $30,000 a year in revenue and therefore there is no legal requirement for them to have a BN.

peterboro
Avatars are for posers
Premium
join:2006-11-03
Peterborough, ON

said by Gone:

said by peterboro:

I don't know why the HST is required considering there is no legal obligation to have one for certain businesses and a personal account is fine for a sole proprietor.

Maybe they want the CRA BN and not actually the HST number? The BN itself doubles as an HST number (along with a payroll account number) with a program identifier tacked on the end.

Still, a sole proprietor doesn't require a CRA BN either, so I don't know. There were stories about Cogeco asking for BNs for business cable account signups and my response to the people who said they had it happen was to tell Cogeco that they are a sole proprietor with less than $30,000 a year in revenue and therefore there is no legal requirement for them to have a BN.

I'm helping someone set up a small business that has no HST# or CRA BN or WSIB obligations and banking will be on a personal account.

BTW they changed WSIB obligations January 1 2013 to try to force almost everyone in Ontario to have coverage that were previously precluded.

As far as I can tell, as he is not selling goods and is compliance with local bylaws, his only obligation to the government is to file a return as a business.


Gone
Premium
join:2011-01-24
Fort Erie, ON
kudos:4

Yes, I am very well aware of the WSIB changes, being part of the "construction industry" and all that. WSIB can go fuck a duck, bunch of useless douchebags. My FIL got an exemption as owner for filing (they have a provision to allow *one* director of a corporation or partner in a partnership to be exempt so long as they don't do any "construction") and I was approved for the special rate for my MIL who works part time, but that really only becomes an issue if we pay her a management wage at the end of the fiscal year through a T4 rather than dividends.

We also have to file T5018s for subcontractors every year.


iLearn

join:2013-01-16
canada
reply to peterboro

quote:
I don't know why the HST is required considering there is no legal obligation to have one for certain businesses and a personal account is fine for a sole proprietor.

Sorry, you are right, HST was optional. I just went in there and removed it.


Gone
Premium
join:2011-01-24
Fort Erie, ON
kudos:4

You only reason they would need your HST number is if you were selling them something that you charged HST on.

Unless - does the software print out or email receipts for customers? If so, this is probably to include the HST number on the transaction receipt which in of itself can be helpful to customers who claim ITCs.


iLearn

join:2013-01-16
canada

Yes, the receipt includes the HST #. I will provide my HST #s to the clients if/when they ask. Hows that?



Gone
Premium
join:2011-01-24
Fort Erie, ON
kudos:4

You have to include your HST number on any receipts, invoices or contracts with more than $30 of taxable goods. If you attach the slip to an invoice that has the HST number you're fine, but if the slip is the only thing you give to your customers and you charge more than $30 it *has* to have an HST number on it.

I always attach slips to invoices with an HST number on it, so it's a non-issue for me.