What must condominiums submit to the Canada Revenue Agency regarding sales tax?

In the context of Canadian taxation, condominiums are required to submit HST Payments to the Canada Revenue Agency (CRA) on applicable transactions. The Harmonized Sales Tax (HST) is a combined sales tax that incorporates both the federal Goods and Services Tax (GST) and the provincial sales tax, applicable in certain provinces, including Ontario.

Condominiums often engage in activities that result in taxable sales, such as common expenses and maintenance fees, making compliance with HST regulations necessary. Submitting HST ensures that the condominium corporation meets its tax responsibilities and maintains good standing with the CRA, fulfilling legal obligations related to sales tax collection and remittance.

Other options like GST, RTT, and VAT, while related to sales taxes, do not specifically pertain to the requirements for condominiums in Ontario. GST refers to the federal tax structure, but in provinces where HST is implemented, that is the tax that must be submitted. RTT (Residential Tenancies Tax) and VAT (Value Added Tax) are not relevant in the context of condominium sales tax obligations in Canada.