Did you know most of the services performed by a physician are GST/HST exempt thus a lot of medical professionals do not register for GST/HST purposes. However, there are services that could be taxable in your practice such as cosmetic procedures, certain forms and records, as well as consulting fees. Failing to register when you are required is a problem with the CRA.
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Financial Planning for Medical Residents
Medical residency is a major milestone, but it also comes with unique financial challenges. Between student debt, limited income, and long-term career planning, it can be difficult to know where
