Solved: Hello, is there a way of showing on the form or in...

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New Member

T2125 & Gst/Hst Remittance - Expenses

Sorry for a repost but the website is not letting me post a comment on my own question.

So, I remitted the GST/HST for my business, and I am not including in my income on the T2125 since it's already dealt with. Do I deduct taxes from all my business expenses likewise? I notice it makes a difference in my refund amount, so I thought I'd ask though I assume if I do not include tax on my income, I would not include it on my expenses.
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New Member

T2125 & Gst/Hst Remittance - Expenses

You are correct.  Your revenues and expenses will be recorded as the amounts without GST/HST.

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New Member

T2125 & Gst/Hst Remittance - Expenses

You are correct.  Your revenues and expenses will be recorded as the amounts without GST/HST.

View solution in original post

New Member

T2125 & Gst/Hst Remittance - Expenses

Hello, is there a way of showing on the form or in a note that the expenses have been calculated excluding GST/HST b/c the CRA asks me in audit and I would like to indicate it for the future to avoid follow up questions. thanks.
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