I am looking at:
http://www.cra-arc.gc.ca/tax/busines...ns/menu-e.html
but I am confused. Don't we have the option of doing the repayment the long way, and by fixed %? I was a contractor when I was 18 and remember I paid a fixed rate back to the goverment.
A friend told me it's 4.4% you pay back, and 1.6 you keep but I don't see that on the CRA site.
The GST form (pink) I got looks like take the gst received, minus the gst paid on good and services and the difference is what you give back to government.
Can someone confirm the fixed % method, and include a link?
Thanks in advance.
Might be worthwhile to get an accountant. I am working up North so I have different expenses to claim. Am on contract, get LOA, Northern living allowance as I live in Calgary. Accountant can help me with what to claim.