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kevingordon
New Member

For each applicable remittance rate, subtract professional fees eligible for the Quick Method plus HST collected or collectible multiplied by Quick Method remittance rate

What does this mean? I collected 13% HST on all my invoices
1 Reply
AD0123456
Level 6

For each applicable remittance rate, subtract professional fees eligible for the Quick Method plus HST collected or collectible multiplied by Quick Method remittance rate

It means that for each applicable remittance rate- you have to subtract the professional fees plus the HST charged. Or you can take what you have collected as HST and multiply it by the applicable quick method rate. 

 

The remittance rates of the quick method are less than the applicable rates of GST/HST that you charge. This means that you remit only a part of the tax that you collect, or that is collectible. For more information, please check the following CRA links,

What are your quick method remittance rates?

 

The quick method of accounting

 

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