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Rockyden

HST paid at start of business

SOLVED
Posted By

The business started last year Dec 12 /14, the company has some business expenses but no revenue. The owner did not report any of these expenses on his return. This quarter Jan -Mar I'm getting ready to file my HST and I'm not 100% sure if I should also capture the HST paid for Dec of last year.

Any help would be greatly appreciated.

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  • 0
    verified answer

    The Dec/14 expenses should have been reported on the HST return ending Dec31/14. You can do so using the HST remittance report for that period ending Dec31/14 and post to Acct Pay as of that date.

    Then post the Jan-Mar/15 remittance report as of Mar31/15.

    You should always go by the balance sheet amounts as of last day of remittance period to get your numbers for the remittance reports.

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  • 0
    verified answer

    The Dec/14 expenses should have been reported on the HST return ending Dec31/14. You can do so using the HST remittance report for that period ending Dec31/14 and post to Acct Pay as of that date.

    Then post the Jan-Mar/15 remittance report as of Mar31/15.

    You should always go by the balance sheet amounts as of last day of remittance period to get your numbers for the remittance reports.

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