CGA Ontario releases second HST guide supporting best practices for Ontario businesses

TORONTO, June 8, 2011 /CNW/ - The Certified General Accountants of Ontario (CGA Ontario) releases a sequel to its first edition HST booklet, Harmonized Sales Tax in Canada, entitled Harmonized Sales Tax for Ontario Business.

"It was important for CGA Ontario to publish a second HST booklet that could take Ontario businesses from a place of transition to best practices," said Ted Wigdor, vice-president, government and corporate affairs.

This valuable and user-friendly HST booklet authored by Diane Gaudon, CGA, HST subject matter expert, offers businesses useful tips on how to comply with HST, highlighting important changes that have occurred since the 2009 implementation. The guide details relevant tax queries such as; point-of-sale rebates, new HST place-of-supply rules, recovering the HST in Ontario and British Columbia, employee expense report factors, taxable benefits, mandatory electronic filing and penalties for misreporting and more.

"Tax initiatives such as the HST are helping Ontario's economy become more competitive, create jobs and attract new investments," said the Honourable Dwight Duncan, Minister of Finance. "The province has seen six consecutive gains in GDP growth and has recovered all the jobs that were lost during the global recession. CGA Ontario is one organization helping people better understand the benefits and the need for tax changes."

"CGA Ontario plays an important role in helping business understand the most significant tax change in a generation," said the Honourable Sophia Aggelonitis, Minister of Revenue. "Due in large part to Ontario's tax change, our economy is turning the corner and jobs are being created. I look forward to working with CGA Ontario as we move forward with implementation for Ontario's Tax Plan for Jobs and Growth."

The new HST guide can be viewed online at http://www.cga-ontario.org/assets/file/2011_CGAO_HST_book_II.pdf

Printed copies can be order online at www.cga-ontario.org or MdeLosSantos@cga-ontario.org or by telephone at 1-800-668-1454.

To locate a Certified General Accountant in your community visit www.cga-ontario.org/applications/accountantreferral/default.aspx.

For additional information or HST support, contact CGA Ontario, a CGA, or any of the following organizations:

  • Ontario Ministry of Revenue http://www.rev/gov.on.ca/en/
  • Ontario HST Information line at 1-800-337-7222
  • Canada Revenue Agency at 1-800-959-5525

CGAs are accounting and finance professionals working with Ontario businesses to make a difference. CGAs are trained to look beyond the numbers, drawing on their broad learning and individual strengths to facilitate problem solving and provide leadership across industries and within changing business realities.

CGA Ontario is a self-governing body that grants the exclusive rights to the CGA designation and controls the professional standards, conduct and discipline of its 20, 000 certified general accountants (CGAs) and 8,000 students in the CGA program of professional studies.

SOURCE CERTIFIED GENERAL ACCOUNTANTS OF ONTARIO

For further information:

Amy Mulhern, manager of public relations, CGA Ontario Telephone: 416-544-4781 or 1-800-668-1454 ext. 8311 Email: amulhern@cga-ontario.org

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