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Returning Member
posted Sep 28, 2020 9:32:07 PM

(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).

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1 Replies
Level 6
Sep 29, 2020 7:17:06 AM

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