GST Number

[lukey9]

I have been selling off some of my items but have sold very little since July. I have been sending in zero's  in sales on the report when I filed at the end of each month. My sales have been less than 20.00 each month since then & with all of my regular expenses I would have cleared allot as the few sales were mostly to the US. Do you have to contact them to cancel your account with them or does it go on for ever even though you are using it.

I have decided to close down selling online as it is too much work and not enough profit any more & I'm getting tired of jumping through hoops to make less money and I have been enjoying myself with the extra time I have like today when I went down to the wharf  and bought  fresh lobsters right off the boat.

Merry Christmas

[kawartha-ephemera]

CRA will expect you to submit a regular report as long as the business account is actiive. You will need to contact CRA to report the business is inactive and request your account be wound-up. They should provide you with the steps you will need to follow.

[dutchman48]

And a Merry Christmas to you as well and enjoy your extended holiday without Ebay.

[cumos55]

Canada Revenue Agency (CRA)has specific  rules that relate to the termination of  registration to collect GST/HST.

A seller must look at all of the inventory not sold  and determine  the  tax, GST or HST paid on that not sold inventory. 

This GST/HST was a part of the Input Tax Credit (ITC).....  and must be refunded to CRA

[lukey9]

That will be very easy as I sold almost everything I had except personal and gave the rest to a Flea Market seller & the Sally Ann store so it is all gone.

[recped]

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@lukey9 wrote:

I have been selling off some of my items but have sold very little since July. I have been sending in zero's  in sales on the report when I filed at the end of each month. My sales have been less than 20.00 each month since then & with all of my regular expenses I would have cleared allot as the few sales were mostly to the US. Do you have to contact them to cancel your account with them or does it go on for ever even though you are using it.

I have decided to close down selling online as it is too much work and not enough profit any more & I'm getting tired of jumping through hoops to make less money and I have been enjoying myself with the extra time I have like today when I went down to the wharf  and bought  fresh lobsters right off the boat.

Merry Christmas

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It's a 2 minute call to CRA to close your GST account, you would need to file one last return.

You say you are filing monthly, you could change this to annual returns if you think in the future you might want to make use of the account to claim some ITC's.

I know quite a few people who have been filing nil returns for years after winding down their businesses to sporadic activity.

[lukey9]

Thank you that is a good idea I'll check it out after the Holidays.