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Quick Method of accounting vs. Regular method


Estimate the amount of GST/HST payable

GST/HST calculator (regular method)


Total annual taxable sales (including the GST) $ 105,000
GST 5% $ 5,000
Total purchases (including the GST) $10,500
GST (input tax credit) $ 500

Estimated GST payable $ 4,500

Quick Method of accounting

Reporting period begining and ending dates are

GST/HST Payment Frequency

Does the business purchase goods for resale?

Business is considered to purchase goods for resale if the cost (including GST/HST) of goods (other than basic groceries and other goods for which you did not pay tax) purchased in the previous fiscal year for resale, or used in goods produced or manufactured for resale, must be at least 40% of total revenue from annual taxable supplies (including GST/HST) for that fiscal year.
Business permanently established in
Sales to (including GST/HST) for the period already reported in the year
(Applicable to quarterly and monthly filers only)
British Columbia
New Brunswick
Newfoundland and Labrador
Northwest Territories
Nova Scotia
Prince Edward Island
Total claim for ITCs on eligible expenditures
Installments paid
Estimated GST/HST payable ($)
Please note: This calculator is for estimation purposes only. We cannot be held responsible for any consequences resulting from its use.

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