The Ontario government is providing a one-time transition assistance to help small businesses offset costs incurred in making changes to their point-of-sale and accounting systems in order to collect the Harmonized Sales Tax (HST) that came into effect in Ontario on July 1, 2010.

In order for small businesses to qualify for this transition assistance you must have a business premise in Ontario, the business must have been registered for GST/HST on July 1, 2010 and the business taxable revenues should be under $2 million. To collect your payment all you have to do is file your relevant tax return. If your business is a sole proprietorship, then a personal tax return; if your business is a corporation, then a corporate tax return. File your tax return to ensure you receive your payment.

For more details, please go to this link.

This entry was posted on Wednesday, October 27th, 2010 and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.