GST Ratio Method – meaning and definition
What is the GST Ratio Method?
Under the GST ratio method, you base your provisional tax on a percentage of your taxable supplies and generally pay it at the same time as your GST. Provided you aren’t in a partnership or operating as a look-through company, you can use this method if you file GST returns monthly or every two months and your income tax liability for the previous year wasn’t more than $150,000.
GST Ratio Method – video guide
Clyden Manikkam, our Client Relationship Manager, explains the GST Ratio method.