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March 12, 2022
Question

What do i enter in zero rated

  • March 12, 2022
  • 1 reply
  • 0 views
i have heating, electricity, water and internet expenses but not  understanding which column to enter them in , is it gst taxable, hst taxable, zero rated

    1 reply

    April 1, 2022

     

    Zero-rated means a product that you purchased like rice is charged at a 0% tax rate.

     

    The column you enter it in will depend on the type of tax that was included as part of the purchase. And you will enter the total amount including GST/HST.

     

    • For example- $100 expense, before taxes
      • If you paid GST, $105 would be entered in the GST column
      • If you paid 13% HST, $113 would be entered in the HST column
      • If no taxes were paid, $100 would be entered in the exempt column.

     

    • If you paid $100 for an expense that included the GST/HST, enter $100 in the appropriate column.

     

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