(TurboTax Business Incorporated) Small Business - Is GST Account registration required because of Covid Forgivable Loan Income?
Business is currently considered Small Supplier (not collecting GST as annual revenues under $30,000). However if addition of 2020 Covid forgivable loan qualifies as revenue, and brings annual revenue to just above $30,000, will additional forgivable loan income require registration for GST Account? (i.e. revenue different than taxable sales).
(TurboTax Business Incorporated) Small Business - Is GST Account registration required because of Covid Forgivable Loan Income?
Hi, thank you for using Intuit TurboTax Community
You should contact CRA at 1-800- 959- 5525 for an answer to this important GST related question
Hope this helps
‎September 29, 20207:17 AM
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