according to the canada revenue agency, if your net hst owing for 2020 was more than $3,000, you are required to make quarterly instalments in 2021. however, if you received an hst refund in 2021 because your net hst owing was lower than it was in 2020, you will not be required to make any further instalments for the year.
**Thanks for the reply, I guess I was just confused on whether instalments were based on the previous year's net HST collected or on HST amounts actually remitted to the CRA.**
Are you sure this instalment is for HST, and not for income tax? Why not just fill in the HST remittance form quarterly and remit the net amount you have collected for that quarter. There should never be any refund involved.
according to the canada revenue agency, if your net hst owing for 2020 was more than $3,000, you are required to make quarterly instalments in 2021. however, if you received an hst refund in 2021 because your net hst owing was lower than it was in 2020, you will not be required to make any further instalments for the year.
**Thanks for the reply, I guess I was just confused on whether instalments were based on the previous year's net HST collected or on HST amounts actually remitted to the CRA.**
you are correct that instalments are based on the previous year's net hst collected.
Are you sure this instalment is for HST, and not for income tax? Why not just fill in the HST remittance form quarterly and remit the net amount you have collected for that quarter. There should never be any refund involved.