A provincial sales tax (PST)
registration may vary from province to province. In
Ontario, for instance a Vendor permit which carries
your provincial sales tax registration number, is
applied to the sale of most products and some
services. With the Ontario PST number, there is no
dollar amount figure about your annual gross sale as
in the case of the GST.
If you fall within the category in
which you should register, you would be required to
do so right from the beginning of your business.
Let’s say, you are selling shoes. As soon as you
register your business either as a corporation or as
a sole-proprietorship/partnership, you will have to
register for the PST, also known as Retail Sales Tax
(RST).
A double-barrelled shot of tumbling oil prices and more bad news from one of Canada's big banks pushed the S&P/TSX composite index under 8,000 points for the first time in more than five years.
Finance Minister Jim Flaherty announced Thursday he will deliver a long-awaited economic update next week, even as a newly released report forecast a possible $5.3 billion in federal deficits over the next two years.
Federal Industry Minister Tony Clement said Thursday the Big 3 domestic automotive companies and their unions need to come up with a plan for the industry's long-term future.
