- Quebec QST changes january 2012
The QST rate is changing January 2012
On January 1st, 2012 (12:00 am EST), the Province of Quebec will be raising their QST rate from 8.5% to 9.5%.
- Go to the Sales Tax menu and click Manage Sales Tax.
- Click Change Tax Setup.
- Select Change the rate (% or amount) of an existing tax and follow the onscreen instructions.
Or
- Go to the Lists menu and click Item List.
- Change the tax item for sales
- Double-click the tax item for sales (e.g., QST on Sales).
- In the Tax Rate (%) or Amt. field, enter the new rate (e.g., 9.5%) for QST Click OK.
- Change the corresponding tax item for purchases
- Double-click the corresponding sales tax item for purchases (e.g., QST (ITC)). NOTE: There may not be a tax for purchases if this is a tax you added yourself.
- In the Tax Rate (%) or Amt. field, enter the new rate (e.g., 9.5%).
- Click OK.
Once you've changed an individual tax item, any sales tax group item that includes it will also use the new rate.
