If you are a business with sales exceeding a certain threshold, you are required to register for the Goods and Services Tax (GST) and the Quebec Sales Tax (QST), which are commonly referred to as TPS (Taxe sur les produits et services) and TVQ (Taxe de vente du Québec) respectively.
Registration for these taxes depends on your business’s annual worldwide taxable sales, including those of your associates. As of my last update, if your sales exceed $30,000 over four consecutive calendar quarters, you are required to register for GST/HST. However, this threshold can change over time, so it’s essential to verify the current requirements on the Canada Revenue Agency (CRA) website or consult with a tax professional to ensure compliance.
If your business operates in Quebec, you would also need to register for the QST, which generally follows similar rules regarding registration thresholds.
It’s crucial to stay informed about tax regulations and requirements, as they can evolve over time. Always consult with a tax advisor or check official government sources for the most up-to-date information regarding registration obligations for TPS and TVQ in Canada.
