Attention Canadians: Get ready for HST with FreshBooks

If you’re invoicing any clients in Ontario, British Columbia, Newfoundland, New Brunswick, or Nova Scotia, you need to know how the Harmonized Sales Tax (HST) works.

You may have to make changes in your FreshBooks account even before the July 1st, 2010 deadline.

We’ve put together a FreshBooks HST FAQ that goes through what you need to know, including changes you’ll need to make to your FreshBooks account.

In short, the old separate provincial sales taxes in Ontario and BC are being rolled together with the GST to create the new HST. Even though the HST rules are only being introduced in Ontario and British Columbia, they may still apply to your business, wherever you are in Canada. And you may need to apply HST before July 1, depending on your business.

Read the HST FAQ and, as always, contact us if you have any questions or comments.

For bonus points: we know HST actually stands for Harmonized Sales Tax – but what should it stand for?

Hockey Stick Tax…?  Highly Suspect Tax…? Or perhaps it’s this thing:

Sure you can come up with some better suggestions…