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Do I need a GST Number?

By John R Mott |

D Shaw asked:

I am an owner operator driving a truck for Fed Ex on contract. Do I need a GST number?

John R Mott answered:

As an owner/operator, you are a self employed person carrying on a business. You are providing a taxable service for GST/HST purposes.

You can hold off registering until your gross revenues reach $30,000 within any 12 month period. But once registered, you must charge GST or HST on all of your revenues.

In your case, it is undoubtedly to your benefit to register as soon as possible. Under the GST/HST system, you are able to claim a refund for any GST/HST paid on your business expenses.

As a vehicle owner, you will undoubtedly have plenty of expenses. If you work in a province that has harmonized its sales tax with the GST, then be sure to charge the HST rate applicable to your province.

There are many other accounting and tax issues applicable to your situation. You would be well advised to seek professional assistance, if only to ensure that you meet your filing obligations on a timely basis.

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