The Quick Method is an alternative way to calculate GST/HST remittance. Instead of claiming most ITCs, you apply a CRA remittance rate to your tax-included revenue (with certain adjustments) and remit that amount. You may still claim ITCs on select capital purchases.

• Simplifies tracking: fewer ITCs to monitor on day-to-day expenses.
• Predictable cash flow: remittance is a fixed percentage of sales.
• Still charge customers GST: You charge the applicable tax (e.g., 5% GST in BC) on invoices as usual.

1. Charge GST/HST on your invoices as usual (BC is generally 5% GST for most taxable supplies).
2. Determine tax-included revenue for the period (include taxable supplies, exclude zero-rated/exempt, and special items per CRA rules).
3. Apply the CRA remittance rate that corresponds to your province and business type to the tax-included revenue.
4. Subtract credits that the Quick Method still allows (e.g., the 1% credit on a portion of eligible supplies, if applicable under current rules; and ITCs on certain capital purchases).
5. Remit the result with your return by the due date.

Note: CRA remittance rates differ by province and activity class. We’ll use the current BC rate table applicable to your business.

Assume a BC service business with $105,000 tax-included revenue for the quarter (that’s $100,000 before GST + $5,000 GST charged). Suppose the applicable BC Quick Method remittance rate for your activity is R% (we’ll confirm your exact rate from the CRA table).

• Step 1: Remittance base = $105,000 (tax-included taxable supplies, after exclusions/adjustments).
• Step 2: Quick Method remittance = $105,000 × R%.
• Step 3: Subtract any applicable Quick Method credit (e.g., a 1% credit up to a specified cap on eligible supplies, if current rules allow for your case).
• Step 4: Subtract ITCs allowed on capital purchases (Quick Method still permits some capital ITCs).
• Result: Net GST/HST to remit for the period.

Why this can be beneficial: If your typical expenses have little GST (e.g., rent in BC, payroll), remitting a fixed percentage may produce similar or better outcomes than tracking ITCs—plus it’s simpler.

1. Elect in: File the Quick Method election effective at the start of a reporting period.
2. Configure your books: Update your invoicing and reporting workflow so your accounting system tracks tax-included revenue and flags excluded items correctly. Our Bookkeeping Services can set this up.
3. File on time: Remit using the Quick Method calculation and keep source schedules as support.
4. Reassess annually: If your ITC profile changes (e.g., bigger capex), we can model switching back to the regular method at the appropriate time.

Do I still invoice GST at 5% in BC? Yes—your invoicing doesn’t change. The Quick Method only changes how you calculate what you remit.

Can I claim any ITCs? Generally not on routine expenses, but you can on certain capital asset purchases (and other limited exceptions). We’ll identify eligible items.

Can I switch back? Yes, but timing matters—usually at the start of a reporting period and subject to CRA rules. We’ll plan the transition and paperwork.