As a GST/HST registrant, you must complete a GST/HST return for every filing period, even if you have no business transactions to report or GST/HST to pay. But GST/HST filing periods are not one size fits all.
Depending on your business’s total annual sales, you may have monthly, quarterly or annual filing periods. It’s important to know your filing period – it determines your filing and payment deadlines.
If you do not file your returns, any refunds or rebates you are entitled to will be held until the Canada Revenue Agency (CRA) receives them. This includes your T2 corporation income tax refund if you are a corporation, and your T1 personal income tax refund if you are a sole proprietor or partnership.
The CRA may assess your tax payable
If you fall behind on your GST/HST filing and payment deadlines, the CRA may assess your tax payable for any outstanding GST/HST returns under section 299 of the Excise Tax Act. These assessments estimate the amount of GST/HST a registrant is required to pay to the CRA.
However, receiving one of these assessments and opting to pay the estimated amount owing does not release you from your obligation to file. You are still required to file your outstanding GST/HST return.
What you need to do
If you receive one of these assessments as a business owner, you will need to:
- file your outstanding GST/HST return; and
- pay the reported amount owing, including any accumulated penalties and interest.
After you file your GST/HST return, the CRA will reverse the estimated amount owing in the assessment and replace it with the reported amount owing, subject to review by the CRA as applicable.
Need more information?
The CRA has a number of resources available to help you understand and meet your GST/HST reporting and filing obligations. For more information, go to GST/HST for businesses. For details on your GST/HST account(s), including balances, log in to My Business Account.
Stay connected
To receive updates on what is new at the Canada Revenue Agency (CRA), you can:
- Like the CRA on Facebook
- Follow the CRA on Twitter – @CanRevAgency.
- Follow the CRA on LinkedIn.