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Am I required to submit GST/HST as a referral partner?

Service Fees charged to client accounts and payable to you are subject to GST or HST based on the client’s province of residence.

ModernAdvisor will automatically apply GST/HST to your Service Fees and include the amount in your monthly payments.

ModernAdvisor will also provide you with an itemized summary of your service fees and applicable GST/HST via a monthly service fee report. Service Fee reports are typically emailed to you mid-month.

This means that you are required to register for a GST/HST account and remit the GST/HST applicable to your Service Fees to Canada Revenue Agency.

It may be prudent to solicit the services of a qualified tax professional to assist with this process.

While registering and remitting GST/HST is an administrative task, there are advantages to doing so. You may be able to claim Input Tax Credits (ITCs) for GST/HST paid on business expenses.

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