A couple months back, I received a notice from the CRA notifying me that as my small business made over the $30k threshold for GST registration in 2021 but I did not have a GST number, I would have to register for one. My bad, I made $30,300, just barely over and it didn’t click in my brain that I was over the limit.
I spoke to someone at the CRA and he registered me for a number, but noted that I had two options to clear the tax situation up. One was re-submit the previous year (or years?) taxes with the GST number, and the other option went right over my head. Again, my bad, I should have clarified.
Anyway, this week I tried calling the CRA agent I spoke to but of course he’s busy and I have not heard back.
Can anyone please tell me what I need to do now that I have a GST number? Re-submit last year’s return, or is it a certain number of years? The CRA agent did note that resubmitting would make me more susceptible to audits, so what is my other, “safer” option?
I know I’ve been a dope about this, so please go easy on me. Thanks.
This CRA page tells you how you can change your 2021 tax return, as TurboTax Online 2021 is no longer available to do a ReFile with: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/change-your-return.html
You would also need to do a GST/HST return if you haven’t already done so. You would have to fill out and submit one through the Canada Revenue Agency (CRA) website. You can read more about it on this CRA page: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4022/general-information-gst-hst-registrants.html#H1_114
If you are audited, just be sure to have all your receipts and other records ready. When the CRA does an audit they are just will double checking that what you have matches with what you have put on your tax return. You can read more about getting audited in this TurboTax article: https://turbotax.intuit.ca/tips/what-small-businesses-should-know-about-the-audit-process-6134