Do I include taxes I've paid for business expenses in my report?

Forum|Forum|1 year ago
April 22, 2024
1 reply
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I wanted to get clarification on whether I need to include the taxes for my business expenses when I'm inputting my expenses in my income tax report.

A friend told me that if you have a GST/HST #, then you DON'T include the taxes in your business expenses because you're supposed to include it in your GST/HST return (https://www.canada.ca/en/revenue-agency/services/e-services/digital-services-businesses/gst-hst-netfile.html). They said if you record it in your income tax report AND your GST/HST return then you're double dipping. I couldn't find info on this online to confirm this.

TurboTax Online Self-Employed

GHarpe

If you have a GST# and are claiming your GST then you would not include the GST in your expenses as the GST is already being claimed in your GST return. If you do not have a GST# and are not claiming a GST rebate then you would include the GST paid on the expenses on your return.

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dioriaAuthor

Thank you for your response!

Since I have a GST # and will be claiming my GST, does that mean I should exclude the CST from the Professional Fees section? I'm uncertain if I should be including the GST I've incurred on my revenue because in the Professional Fees' section it says "Include work in progress and GST/HST if applicable". And I believe in the previous year, a Turbo Tax agent told me to include the GST for my self-employment income.