Company Saves on QST Remittances with Simplified Filing

A small Montreal service company was drowning in paperwork. Every GST/QST filing period felt like a battle dozens of invoices, endless categorization, complex ITC/ITR calculations, and constant reconciliation issues. Despite all the work, refunds were often questioned or delayed. Then Mackisen stepped in and discovered something the business had never considered: the Quick Method.

By switching to the GST/QST Quick Method, the business dramatically simplified compliance and saved thousands in QST remittances. Here is how it happened.

The Situation: Traditional Filing Was Draining Time and Money

The company:
• tracked every ITC and ITR manually
• had messy documentation
• filed returns inconsistently
• dealt with refund delays each quarter
• spent too much time reconciling expenses
• mixed personal and business purchases
• had trouble keeping QuickBooks tax codes consistent

Traditional GST/QST filing had become an exhausting chore and prone to error.

The Turning Point: A CPA Review

During a routine review, Mackisen noticed that:
• the business had low expenses relative to sales
• most expenses did not generate significant ITCs/ITRs
• taxable supplies were consistent and predictable
• the company’s activity fell squarely within Quick Method eligibility

The owner had no idea this option existed.

How The Quick Method Changed Everything

Step 1 — Confirming Eligibility

Mackisen verified that the business:
• had under $400,000 in annual taxable revenues
• did not fall into an excluded profession
• had a simple service-based model
• could legally elect the Quick Method

The company was an ideal candidate.

Step 2 — Filing the Quick Method Election

Mackisen filed:
• GST74 for CRA
• FP-505. D. A for Revenu Québec

The Quick Method took effect at the start of the next reporting period.

Step 3 — Reconfiguring Accounting Software

The team updated:
• QuickBooks tax codes
• invoice templates
• reporting settings
• remittance calculations

The system now automatically applied Quick Method logic.

Step 4 — Training the Owner

The business learned:
• how the remittance percentages work
• which expenses still qualify for ITCs
• how to treat capital purchases
• how to file Quick Method returns effortlessly

The owner gained complete confidence.

The Outcome: Big Savings and Zero Stress

Switching to the Quick Method delivered:
• thousands in QST remittance savings
• faster rebate cycles
• almost no documentation burden
• clean, simple filings
• fewer questions from Revenu Québec
• no need to track every ITC and ITR
• reduced audit risk
• more predictable cash flow

The business owner now spends minutes not hours preparing GST/QST returns.

Key Lessons

• The Quick Method is one of the most underused tax strategies for small businesses
• Service-based companies with low expenses save the most
• Switching requires proper filing and software setup
• Many businesses waste time tracking ITCs they don’t need
• A CPA review can uncover major savings

Real Client Quote

“I used to lose full days every quarter dealing with GST/QST. Quick Method saved me time and money. I wish I’d known earlier!”

Common Questions

How much can a business save?
Often hundreds or thousands annually, depending on revenue.

Are ITCs eliminated under the Quick Method?
Most are, except for capital expenditures and certain exceptions.

Does the Quick Method reduce audit risk?
Yes fewer calculations mean fewer opportunities for error.

Can any business elect the Quick Method?
No certain professions (like accountants and lawyers) are excluded.

Why Mackisen

With more than 35 years of combined CPA experience, Mackisen CPA Montreal helps businesses identify tax-saving opportunities, implement the Quick Method correctly, and optimize GST/QST compliance with minimal effort.