Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can I shift from one payment timeframe to another – from Quarterly to Annual or from Annual to Quarterly – if I find a switch is advantageous?

April 26, 2017advantageous annual payment quarterly shift Switch timeframe

0

Posted

Can I shift from one payment timeframe to another – from Quarterly to Annual or from Annual to Quarterly – if I find a switch is advantageous?

1 Answer

0

Posted

A. If your annual sales are less than $500,000, you are assigned an annual reporting period, but you may elect to report quarterly or monthly by filing Form GST20, Election for GST/HST Reporting Period.