Tag Archives: tax

GST – Does your business need to register?

GST Blog title - Does your business need to register?

 

If you’ve just started a business, or your side business has been taking off, you may be required to register and charge GST/HST on your sales. In general, your business will be required to charge GST/HST on the sale of most taxable goods, services, and leases, where revenue from these activities exceeds $30,000 over four consecutive calendar quarters.

 

GST calendar showing 4 calendars of 30000 in revenue means its GST time

 

Note that this requirement for GST/HST is based on consecutive calendar quarters, as opposed to a complete fiscal year. For example, if your business earned $25k in revenue in both fiscal 2019 and fiscal 2020, it might not seem like you will be required to register. However, if $20k of your 2019 revenue was earned in the last two quarters of the 2019 fiscal year, and $10k of your 2020 revenue was earned in the first two quarters of the 2020 fiscal year, then you will have met the requirement of $30k revenue over four consecutive quarters. In this situation, your business would be required to register, despite never hitting $30k in sales in a single fiscal year. (more…)

LEM: Labour Expense Multiplier

Labour Expense Multiplier

 

There are four primary issues in our economy which contribute to a continual rise in inequality:

 

  1. The global supply of cheap foreign labour, resulting in the outsourcing of jobs from developed nations to developing nations.
  2. How our current tax structure rewards investment and discourages the hiring of and desire to perform labour.
  3. The global race to the bottom in corporate tax rates.
  4. The rise in automation and replacement of labour.

It is my belief, that the following new expense multiplier can alleviate all four of the primary issues above.

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