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Do I include taxes I've paid for business expenses in my report?
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-netf...). 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.
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‎April 22, 2024
10:51 AM