[Verse 1]
When your revenue hits thirty thousand in a year
GST registration becomes crystal clear
Collect the tax on every taxable supply
Input credits help your cash flow fly
File your returns by the deadline date
Keep those records accurate and straight
[Chorus]
GST HST flowing through the books
Remember the rate remember the hooks
Five percent GST thirteen percent combined
Input credits claimed output defined
Exempt supplies get no credit back
Zero-rated supplies stay on track
[Verse 2]
Place of supply determines where the tax applies
Look to where the recipient resides
Services follow where the buyer's based
Goods are taxed where they're physically placed
Real estate stays where the property stands
These are the fundamental GST lands
[Chorus]
GST HST flowing through the books
Remember the rate remember the hooks
Five percent GST thirteen percent combined
Input credits claimed output defined
Exempt supplies get no credit back
Zero-rated supplies stay on track
[Bridge]
Quick method simplifies the calculation game
Remit a percentage of your total claim
No need to track each input separately
Small business relief administratively
Real property transactions need special care
Residential sales exempt buyer beware
[Verse 3]
Exempt supplies like health care and rent
No GST charged no input credit sent
Zero-rated exports and basic food
Tax rate is zero but input credit's good
Taxable supplies get the standard rate
Documentation helps you calculate
[Chorus]
GST HST flowing through the books
Remember the rate remember the hooks
Five percent GST thirteen percent combined
Input credits claimed output defined
Exempt supplies get no credit back
Zero-rated supplies stay on track
[Outro]
From registration through to filing day
GST compliance lights the CPA way
Master these rules and you'll succeed
GST knowledge is what CPAs need