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Jul 19, 2019 1:26 pm
I am wondering if I were to open a savings account with EQ at 2.33% yearly savings and use it as a trust fund for my collected HST, CPP, EI, etc. if this is allowed?
If yes, is it beneficial or no??
Thank you!
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Jul 24, 2019 4:18 pm
As long as you have immediate, liquid access to this trust fund, then I don't see a problem. If your company is incorporated, then the funds should be held in trust for the corporation. It is your responsibility to make sure that HST payments are made on-time to the CRA.