Additional Resources
Describe scholarships and how they are treated for tax purposes
What are the key rules related to an RESP?
What is GST? What is the difference between GST and HST? Who pays and who charges GST? (6.7.1)
How are fully taxable, zero-rated and exempt supplies treated for GST purposes? (6.7.2)
In your own words how would you differentiate the kinds of items that are categorized as taxable, zero-rated or exempt supplies? Provide some examples of each. (6.7.2)
Who is required to register for GST? When are you required to register for GST? (6.7.2)
How is the GST payable/receivable calculated? What is the ‘quick method’ and when might it be relevant? (6.7.3)
What are the GST filing deadlines? What are the GST instalment and final payment deadlines? (6.7.4)
What are the penalties and interest for late filing of GST return? What are the penalties and interest for late instalments and final payments of GST? (6.7.4)
What are the GST implications on taxable benefits? (6.7.5)
What are some GST considerations when transacting with non-residents? (6.7.6)
