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l i mm-mmnmuns . 0 0 . tt' -uenas-snces~ssnmnmon' inne- e Sterln or ‘ ‘t Grind Food at Environmental Aim Nutritional Eval , ‘ and Vector Stress Testing by Nick! - RN | sanewbusinessomieryouhavetwoopdonswhendeddmgmregistermooflectHSERcv- rec 1 Ajnue Canada does not require you to start collecting until yoursalts have readied $30.“ in - Bfln thls ad & elve ‘ ' lZ-month period from themonthofyourlirstsale ' ‘ 2 0° Ofi Once you have reached this sales level in the 12»month period. you must call or register ' ‘ ‘ online. and stan charging the 13 per cent HST on all sales from that point forward. fl 3 You may, however. choose to register right from the ‘ beginning of your business, and voluntarily start colâ€" m. water’oochmnic’e'ca i lectiiig the HST. * ”W _0 The question becomes why would you voluntarily ' 2 1.1813 . choose to register from dollar one? â€"-â€"â€"-» -â€"-â€"-â€"-â€"~~â€"â€" _____..___,._, »-- §§§§ g To answer that question, let me share a situation a; 35... jg fig . . that happened recently with a client who was going .’ gig ;§§§E.§g â€"g into the home renovation ' 3 HYUHDRI - a, iggffil'ii business. I asked him how he _ DOU BLE 0/ l §§fi§55§§f§§ mg was goingto handle thepur- H .\\( H I“ . SAV|NG§ /O is géfégsigm “sin chase ofthe buildingsupplies BUSI\lS\ ‘ g “ink: gig? to complete his job for his ‘ ' '“ ‘ 2 35; 232 1-9; customers. . §S§§§§§§gngég His answer would deter- . §§§§§x a figsgig mine whether it was better to A. - . . t t r “Craig? 53 â€" . . , All] /\(.(.lNl l.llt\l.llll. i‘mgu- 1 <§ register for HST right away or -‘ W" fig??? 33 g; is wait until he reached $30,000 ~ Nlllilllllllil mm . . tr: “5- ? ggfé- it {if “omelet; . . UPGRADE 7 -- ~ . . £2 fiscal its; He didnt want to get a 5h§§§g‘£’i‘1 g g involved in carrying building ‘ r, W â€"- - » n ' 5; xiii?! _-_- §§ supply inventory and i fig _ ed, § a resellingimtlia'markup. .. 1 W ROY ”Mlmn ”mm m momrmmn mem i, 3323555; 2&3 He said it would be easier 1 ( mom" amt mm fiilfliéfirii’gififfiffi'fifir if sf L; g: 55 to simply purchase all the WEBER c/s1umstm' ' "WE“ I'm 53g=§jis=igf§ is supplies he needed from a ’ " ’ £52233? 33? ‘ building supplier at retail and pass on the bill to his fig- ggggn'ggi! gi customer. He would make his money from the service as iiiâ€"”g E”; - H 3 he“, . . . p §§ jg? if? ould promde completing the renovation. ggiiflfg' my; iii l suggested that he not register then for HST until " ' s . :; 546 a? ? he reached the $30,000 mark, and here is why. Mumnc Eran-smmmm fismgmrwwm- as? 5 525? = jig First. if he was to inventory the building supplies ' ggfigg ggz§§§z and resell to the customer. he would be better to regisâ€" (a; 2223?” 4mm. 5 55: is £523? 3 5g 53? ier to collect the HST because when he would pur- ~â€"â€"â€"â€"â€"~â€"â€"â€"t iiiigéz’éfigfig chase the building supplies from a wholesaler he 1 - {3§%:-S§§§i £22; would be charged the l3 per cent HST. 4‘ 92; g Siéig {£9353 ‘ If he was not registered to collect HST from his cus- *‘ ‘ ‘ 4 ‘ ’ " : ‘ 5:3 2 g §§ $2535 a??? tomers. he would not be eligible for a credit on the v 22.5? gégfiggsiégi HST he was charged from his wholesaler. g: ii gr? g§§ éfié? §§§ Since he was not going this route with the building f??? 55 giéééé Egg? supplies. it would make more sense not to register for tsswnmtmw , tum-0mm mm mlm 5§§§§2§zé i553 552 lls'l'umlllu-hadto. t t Sgésgiggssfégeal Secondly. as a new business competing with existâ€" immig1 m m Mr§141 mm m M§143' wmr m iisgsizggggf‘fi‘iga irig home renovators, he would have a price advantage fix‘f’fi; Wt»? if}? “m” if»? - ‘wnfsm g 35; £55155 f i E 5 as? initially not having to charge the 13 per cent HST until fig??? “£23 £2 5: 3? he reached the $30,000 trigger pomt. my mum. no um um ~==â€"_- “1mm §§§§fj E“ 5255531 Hts tttttmers woutd 13. per cent that they not“ “sews “tests as s 55 fists??- would have had to pay his competitors. 53:13; i. 3,93 ?=g 3 r? By not chargingthe HST he could get his foot in the 3:33 9 ifigéggyga door with attracting his first couple of customers, and amorous mmmmm g giggéi 54:2 jfi get his business ofi the ground a little faster. m M “m Wu's-05mm § 5 352 in}??? a '|r5Asmmm onwm-mwwtm Fig fi§§:§;§9§- 4 suvwrrirsmousmsomn 7muwn :mm:nmusmmm 4 r_ 3? 5â€"235 5 1 Roy Weber Lian adviser with the Waterloo Small Busiâ€" mm??? M' MIME . . , git}! ' " ’ ~ 3335 ngig i k 4 nessCenn-e. Email him at roywber®uut¢rloaca . y J. T“.-m_btg, m in“ “A Awgd e a. yaw”? ' ‘ f igséiég, §'§§§Zi§ I a... we“ “ ’ " "- if“ ;t, W751 " ' f " ' f” f .. .: f g ' at?” 1 ' “0:4, “ ‘ ° at “ L T" “f 31; i ‘ 8 : Waterloo CA on conned we \ ~ t .. g , . ». . §§§§§§ 33; §;§§ ‘ ‘ ' ' N, “t mm gift riff its? : Waterloo chartered He was a co-recipieni 7 . y -. ~' MM, 2: m um t‘ "' ‘ 33245 3g? 1 accountant and Universi~ of theAmerican Account- 2:5" . ‘ mm .- 4 in! 3.3. g i . ty of Waterloo professor ing Association's 2009 f, ’ Manama " ..._ a a fit? it? 1 Alan Webb has been re- Notable Contribution to : t \ - " ’ 3 ii 2'3Ӥ 3,5 ‘. elected to the governing Auditing Literature “ ‘ ,’ f s 32; gi’i 1; ; council of the Institute of Award. and received the 3 :s i 53}; . Chartered Accountants of L.S. Rosen Outstanding -’ ' {gait 3§ 5; r 1 Ontario. Educator award from the i‘figg? , if Webb is an associate Canadian Academic g E i g first; t professor at the llniversi- Accounting Association fig if! jig; ty‘ ofWaterloo. He has in2011. » A , H. ' é _ _ 1 £3: authored and (0- The council boastsa m HYUFIDH‘ i Eagfgigigsg? I authored several articles cross-section of business 3 giifisggig § gr; “' in academic accounting and community leaders E5 "sihkfigi journals. He is alsoaco- from many areas of prac~ thvouvloodmwood- gaziiégajigfi r author ofa leading Cana~ (ice. including public E £9523 w dian textbook on intro accounting, industry. the m om m sisgggiigiiiggg ductory management public sector and aca- (net-£317:sz wfmrxg-‘n c l'flhv':’t-N- éggfiiggiés 35:5 accounting' demics m nlpd'oohynndol co m EhII’l-bvfiwi r:- WW“ me. i g j 1 g a: i P