If your question is about professional fees in the income section of the self-employment, please fill the boxes as instructed on the page with the title “[Your Name], what was your self-employment or business income?”
- In the box “Professional fees (include work in progress)”, enter the professional fees you received including GST/HST you collected from clients (column 3H in T2125).
- In the box “GST, HST and PST (if included in sales above)”, enter the amount of GST/HST you collected from clients (column 3I in T2125).
- If you use the Quick method, answer “Yes” to the question “Did you use the Quick Method to calculate your GST/HST remittance?”
- In the box “GST, HST collected or collectible on professional fees eligible for the Quick Method”, enter the amount of GST/HST collected from the clients that are eligible for the Quick Method (column 3K in T2125).
- In the box “For each applicable remittance rate, subtract professional fees eligible for the Quick Method plus GST/HST collected or collectible multiplied by Quick Method remittance rate”, calculate professional fees plus GST/HST times remittance rate (column 3L in T2125). This is the amount that you would remit to the CRA (Canada Revenue Agency).
You can obtain more information by visiting the CRA page “Quick Method of Accounting for GST/HST”.
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