The Quick Method
A simpler way some small businesses work out the GST/HST they owe. CollabNorth doesn't support it yet.
Under the regular method, you send CRA the GST/HST you charged, minus the GST/HST you paid on expenses. The Quick Method is a shortcut: you send a set percentage of your tax-included sales instead, and you generally don't track input tax credits on day-to-day expenses.
Who can use it
Many small businesses with taxable sales (including tax) of $400,000 or less a year can choose it. Some professions, such as accountants, lawyers and bookkeepers, can't. You have to elect it with CRA.
Is it worth it?
It often suits service businesses with few taxable costs. It rarely suits businesses that buy a lot of materials, because you give up claiming the tax on them. Run the numbers both ways, or ask an accountant.
In CollabNorth
CollabNorth uses the regular method. Quick Method support is planned for later. If you use the Quick Method today, the Set aside amount on Tax time will be off, because it assumes the regular method.
This is general information to help you keep your own records. It is not tax or legal advice.
Based on: CRA guide RC4058, Quick Method of Accounting for GST/HST
Last checked: 2026-10-12