No corporation. Still a tax year.
T1, GST, and instalments for sole proprietors and independent consultants in BC.
GST sits in the same account as rent
There is no T2. There is a June 15 deadline, GST if you collect it, and instalments that were never set. The T1 only works if the year behind it is a file, not a box.
GST you already spent
GST collected went into the same account as rent. We separate what you owe from what you can spend before the remittance is due.
No instalments until April
March, June, September, and December were skipped. April then looks like a surprise profit. We set amounts for the year you are in.
Receipts stay in a box
Receipts, invoices, and home-office notes live in a box until the T1 is due. We keep a simple file so June is a filing.
A file you can open in June
Separate GST from rent. File the T1 by June 15. Set instalments so April is quiet.
01
Separate GST from take-home
What you invoice, whether you should be collecting GST, and what is actually deductible.
02
File the T1, and GST if you collect it
Personal return by June 15. GST returns on their own calendar. CRA letters when they show up.
03
Set this year's instalments
March, June, September, December amounts that match this year, so April is not a second tax bill.
Bring last year's T1 and the receipts.
We will say whether June 15 is a filing or a reconstruction.