Tax Claims

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Tax Claims

Claiming HST, GST, PST and QST is the largest challenge for exporters. The tax claim process takes months and, in some extreme cases, years until the money is returned. Going through an audit significantly affects your cash flow and unfortunately puts many companies out of business.

One of the most critical Techlantic offerings is to pay your company for the vehicle and the sales taxes instantly. Techlantic pays you the same day that you paid for the vehicle which simplifies your tax claim.

Techlantic is well known by the Canadian Revenue Agency as an exporter. Techlantic takes control over the export process and pays for the vehicle or other goods locally in Canada. Your risk of losing your tax refund will be eliminated.

Frequently Asked Questions

What amount do I invoice Techlantic?

Please invoice Techlantic an amount that already incorporates some or all of your planned profit and clearly shows the applicable sales taxes on that amount.

Will Techlantic pay any Canadian sales tax?

It is important to inquire with Techlantic for first time out-of-province transactions. Almost all sales taxes will be paid, with the exception of Quebec QST as Quebec does not offer an effective program for claiming taxes back when the goods are exported. Most provincial sales tax programs (PST) cause challenges which is why Techlantic focuses on HST and GST provinces.

What taxes do I need to pay to CRA?

You pay the net difference between what you collect and what you pay out in sales taxes. Your accountant should keep proper records of all transactions. Techlantic can provide assistance in this matter.

What do I need if I get audited?

Audits are no problem when you file your return and pay on time and when you keep a proper record of all transactions. They can however be crippling to your cash flow if you are expecting a large refund as it can take 3-6 months to process and it will hold up subsequent claims. Your accountant can help and Techlantic can provide assistance.