If you’re planning to start a business in New Brunswick, one of the essential things you’ll need is an HST number.
The Harmonized Sales Tax (HST) is a combined federal and provincial tax that applies to most goods and services sold in the province.
In this guide, we’ll walk you through the steps on how to get an HST number in New Brunswick.
Step 1: Determine if You Need an HST Number
Before you apply for an HST number, you need to determine if your business is required to register for HST in New Brunswick.
Generally, you need to register for HST if:
- Your business sells taxable goods and services in the province, and
- Your business’s worldwide revenues exceed $30,000 in a calendar quarter or in the previous four quarters.
Step 2: Gather the Required Documents & Business Information
To apply for an HST number, you’ll need to gather the following information:
- Your business’s legal name and operating name (if different)
- Your business’s contact information, including address, phone number, and email address
- Your business’s Canada Revenue Agency (CRA) business number
- Your business’s incorporation or registration documents (if applicable)
- The name and contact information of the person authorized to act on behalf of your business
Step 2 is crucial when applying for an HST number in New Brunswick.
You’ll need to provide your business’s legal and operating name, contact information, CRA business number, incorporation or registration documents (if applicable), and the name and contact information of an authorized person.
Ensure your operating name doesn’t infringe on any existing trademarks or copyrights.
Choose a reliable person to manage your HST account and communicate with the CRA. Gathering all necessary information will ensure a smooth and efficient application process.
Step 3: Register for an HST Number
Once you’ve determined that your business needs to register for HST in New Brunswick and gathered all the required information, you can register for an HST number online, by mail, or by phone.
To register online, go to the CRA’s Business Registration Online (BRO) service, which is available 21 hours a day, seven days a week.
You’ll need to create an account and provide the required information.
To register by mail or phone, you’ll need to complete the RC1 form, which is available on the CRA’s website.
You can then either mail the form to the CRA’s tax centre in your area or call the CRA’s Business Enquiries line at 1-800-959-5525.
Step 4: Start Collecting and Remitting HST
Once you’ve received your HST number, you’ll need to start collecting HST from your customers on taxable goods and services.
You’ll also need to remit the HST you’ve collected to the CRA on a regular basis.
It’s important to keep accurate records of all HST collected and remitted, as well as any HST paid on business expenses.
You’ll need these records for tax purposes and to complete your HST returns.
Getting Your HST Number
Getting an HST number in New Brunswick is a straightforward process that involves determining if you need to register, gathering the required information, registering online, by mail, or by phone, and then starting to collect and remit HST.
It’s essential to keep accurate records to ensure that you comply with HST regulations and fulfill your tax obligations.
these steps, you’ll be well on your way to starting a successful business in New Brunswick.