We’ve heard from many businesses in Saskatoon about the confusion surrounding the GST Holiday, and there is considerable confusion about whether applying the GST exemption is mandatory. The policy was introduced with limited clarity, leaving many businesses uncertain about their obligations.

Here’s what we recommend for Saskatoon businesses to stay on track:

1. If you charge GST, remit it to the CRA

It’s crucial that if you are collecting GST from your customers, you remit the full amount to the Canada Revenue Agency (CRA). The CRA will be focusing its enforcement efforts on businesses that collect GST but fail to remit it, so make sure your accounting is accurate and up to date.

2. If you don’t charge GST, make sure to properly record it

For businesses that do not charge GST on certain items, be sure to document everything. Whether it's due to your business’s classification or the type of product or service, proper recording is essential to avoid potential issues down the line.

Don’t get caught in the GST holiday confusion. Instead, focus on your core responsibilities: ensuring that any GST collected is properly remitted and that non-GST items are well documented.

For more details, check out the official CRA page on "What to do as a business that charges the GST."