Today I was looking into administrative matters for Minireference Co. and I want to collect some notes here which might be helpful to other entrepreneurs starting their ventures in Quebec.<\/p>\n
The first thing to do is to register<\/a> (en<\/a>) with Revenu Quebec and obtain you “tax numbers”. Your tax numbers allow other businesses to track the taxes they pay to you. You can use\u00a0this form to verify a QST number<\/a>\u00a0for any company.\u00a0You can find more info about\u00a0here<\/a>\u00a0and\u00a0here<\/a>.<\/p>\n Registering is important because all the GST and QST taxes you will pay as a company are refundable. The GST is refunded as input tax credits (ITCs), the QST as input tax refunds (ITRs)<\/a>. \u00a0Be sure to register BEFORE you incur any major expenses because to\u00a0be entitled to ITCs or ITRs, you must have been a registrant during the reporting period in respect of which you paid the taxes. At the end of the year, you will be able to get back the tax paid on pretty much all your operating expenses<\/a> and even\u00a0home office expenses.<\/p>\n The second thing you have to do is collect GST and QST<\/a>\u00a0on all the sales you do.\u00a0 In the case of Minireference Co., I am dealing in \u00a0books<\/a>, more specifically printed books<\/a>\u00a0which are zero rated articles<\/a> in Quebec so I only have to collect GST.<\/p>\n There is a\u00a0nice guide to all of this<\/a>, which I have not read yet but which I am going to print. The guide doesn’t include the\u00a0changes<\/a>\u00a0 which take effect Jan 1st (new way to calculate QST: \u00a0now calculated at\u00a09.975%\u00a0on the selling price\u00a0not including GST<\/strong>).\u00a0You can get in touch with RQ\u00a0by phone<\/a>. The waiting time was very reasonable.<\/p>\n Today I was looking into administrative matters for Minireference Co. and I want to collect some notes here which might be helpful to other entrepreneurs starting their ventures in Quebec. The first thing to do is to register (en) with Revenu Quebec and obtain you “tax numbers”. Your tax numbers allow other businesses to track […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-196","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/minireference.com\/blog\/wp-json\/wp\/v2\/posts\/196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/minireference.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/minireference.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/minireference.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/minireference.com\/blog\/wp-json\/wp\/v2\/comments?post=196"}],"version-history":[{"count":0,"href":"https:\/\/minireference.com\/blog\/wp-json\/wp\/v2\/posts\/196\/revisions"}],"wp:attachment":[{"href":"https:\/\/minireference.com\/blog\/wp-json\/wp\/v2\/media?parent=196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/minireference.com\/blog\/wp-json\/wp\/v2\/categories?post=196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/minireference.com\/blog\/wp-json\/wp\/v2\/tags?post=196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}