Artists and the new Ontario HST as of July 2010

To my huge surprise the HST is actually a benifit to small busineses that collect under $30,000.00 in revenue. I have a lot less paperwork now that the HST came into effect, and I do not currenly have to charge tax at all to my customers. There have been huge changes to the tax system for small busineses and you want to keep up to date. A simple explination is that if you did not collect GST before the HST came into effect on July 2010, you will not collect tax at all. If you are a small business (small Supplier ) that collects less than 30,000 per year you are not required to collect HST. The catch is that if you are edging up to 30,000 you had better register for HST before you hit $ 30,000, because you start to collect HST the minute you go over $30,000 in revenue. That is why is so important to keep track of your sales while you make them and not just at the end of the fiscal year. I know that its tough to pull yourself out of the art studio to figure this stuff out, but trust me its worth it.

What is HST? The HST will merge the provincial sales tax with the goods and services tax into one single Harmonized Sales Tax of 13%.