Sole proprietors, partnerships, or corporations that are small suppliers

You are a small supplier if your total taxable revenues (before expenses) from all your businesses are $30,000 or less in the last four consecutive calendar quarters or in any single calendar quarter.

Total taxable revenues means your worldwide revenues from your supplies of goods and services subject to GST/HST (or that would be subject to GST/HST if supplied in Canada) including supplies that are zero-rated (taxable at the rate of 0%). However, it does not include revenues from supplies of goodwill, financial services, and sales of capital property. You also have to include the total taxable revenues of all your associates in this calculation.

Deregistering (closing) your GST/HST account

If you are registered and your total taxable revenues fall below the Small supplier limit calculation amount you may decide to deregister (close) your GST/HST account. If this is the case, you must have been registered for at least one full year before we will close your account.

You may be holding property that was for consumption, use, or supply in your commercial activities when you close your account (cease to be a registrant). We consider that just before you close your account you have disposed of each property (see Capital property held at time of closing a GST/HST account for the specific rules applying to capital property) for an amount equal to its Basic tax content and you have collected GST/HST on that amount. You have to remit this GST/HST on your final GST/HST return.

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