Duncan Bostock is a sole proprietor in his first year of operations. The following table summarizes his

Question:

Duncan Bostock is a sole proprietor in his first year of operations. The following table summarizes his taxable supplies for the current year:

(a) When is Duncan required to register for GST/HST?

(b) How would your answer change if Duncan had an additional $20,000 of taxable supplies on June 30?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Canadian Income Taxation 2022/2023

ISBN: 9781260881202

25th Edition

Authors: William Buckwold, Joan Kitunen, Matthew Roman

See More Books

Question Posted: Apr 12, 2023 01:10 AM

See More Questions

A bakery with a December 31 st year end purchased new equipment on October 31 st 2000 for $10,000. This was their first equipment purchase. Required: What are the tax consequences if the equipment is...
The one sure way to make money in Memphis, Tennessee, has always been through real estate, but the kinds of people who became millionaires this way defied a single, simple description. Consider five...
A single taxpayer has $15,000 of ordinary taxable income in 2016 (after his exemption and standard deduction but before consideration of the following recognized gains), a $9,000 long-term capital...
You are looking to help a small municipality finance their drinking water treatment facility with the installation of UV (ultraviolet) disinfection. The total cost of the project is estimated to be...
A change to the full accrual basis may have little impact upon reported revenues. A city levies property taxes of $4 billion in June 2013 for its fiscal year beginning July 1, 2013. The taxes are due...
To accomplish universal health insurance coverage, a mechanism is needed to limit adverse selection. What was that mechanism in the ACA? Did it work as intended? If not, why not?
In a turbulent pipe flow that is fully developed, the axial velocity profile is, \[ u=u_{c}\left[1-\left(\frac{r}{R} ight) ight]^{1 / 7} \] as is illustrated in Fig. P5.68. Compare the axial...
1. Stone Inc. is a company that purchases goods (e.g., chess sets, pottery) from overseas and resells them to gift shops in the United States. Stone Inc. is which of the following? a. Retailer b....
In your new role as Chief Human Resources Officer (CHRO) for a major retail organization, you have been tasked within the first 30 days by the CEO to conduct a presentation to the management team on...
A new business venture requires $600,000 of equity capital from passive investors in addition to the $400,000 of capital that is being provided by the initiator of the project. The $600,000 will be...
Quality Quo is a Canadian-controlled private corporation carrying on business in Canada. For its year ended December 31, 2022, Quality Quo earned income from the following sources: Active business...
If f is increasing and f(x) > 0 on l, the g(x) = 1/f(x) is decreasing on l.
In consideration of what you have learned so far about individual and team coaching, which one would you prefer as a coach individual coaching or team coaching? Which would you prefer as a coachee?...
List three ways you may become aware of the need for workplace coaching of a colleague? Q.2 List four factors that can individualise the coaching need for staff members? Q.3 Name four outcomes that...
5 1:05:47 Book Hint 0 Print erences Exercise 1-6 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Cherokee Incorporated is a merchandiser that provided the following information:...
How might free cash flow impact financing and investing decisions for a company like Bath & Body Works?
Factor 4k + 28k + 48. The factored expression is
Name and explain the four sections of the direct plan.
In exchange for land, the company received a 12-month note on January 1. The face amount of the note is $1,000, and the stated rate of interest is 13%, compounded annually. The 13% rate is equal to...
Consider the market for off-campus apartments in your city. Identify some submarkets that have different needs and determining dimensions. Then evaluate how well the needs in these market segments...
Explain how positioning analysis can help a marketing manager identify target market opportunities.
In your own words, explain economic needs and how they relate to the economic-buyer model of consumer behavior. Give an example of a purchase you recently made that is consistent with the economic...
How to draw a database in MS SQL Server for an entity with only a multivalued attribute and no primary key?
use Adventure Works Database Run each query and save the notebook with the results before submitting it. All the questions below are related to AdventureWorks database. make sure your notebook is...
PLEASE REFER TO THE SCREENSHOT OF THE OUTPUT BELOW EACH QUESTION AND THE CODE TO ENSURE THAT THE GIVEN ANSWER MATCHES THE OUTPUT AND USES THE CORRECT TABLES SQL CODE(to long to post in text):...

Duncan Bostock is a sole proprietor in his first year of operations. The following table summarizes his

Question:

Quarter January to March April to June July to September October to December Taxable Supplies $5,000 $11,000 $19,000 $14,000

Step by Step Answer:

a Duncan will lose small supplier status and be required to register for GSTHST when he exceeds 3000...View the full answer

Canadian Income Taxation 2022/2023

Students also viewed these Business questions