The self-employment total revenue should include "GST/HST or PST if applicable". But it then asks for GST/HST only. Where should I indicate the amount of collected QST?

[Azarpub]

I am registered for HST.

When entering sales it asks me to include the hst.

the question is in expenses, when entering purchases and sub contractors, do i include Hst there as well?

[TurboTaxGinette]

Do you have a GST number and claim a GST rebate?  You will then enter the amount of the expense minus the GST you paid if you are claiming a rebate for it. If you are not claiming a rebate on the tax, you will enter the expense amount plus the tax you paid in the column according to the tax you paid and are not claiming a rebate.

Thank you for choosing TurboTax.

[SeeSee58]

Thank you for this information, most helpful!  I just wanted to confirm/clarify something ... I understand that in PART4 of the T2125 for business expenses, things like Advertising, Office Expenses, etc. ,  we are to enter the expense amount only, less the GST/HST we paid if we are registered.  Which I am, and I do claim ITC.

My question is :  Does the same apply to Part 3D - Cost of goods sold?  For lines -  Opening Inventory and Purchases During the Year  -  Would I include or exclude the GST/HST that I paid on my purchases of raw materials?

[Azarpub]

You would exclude the hst as it will be done with your hst return.

[Azarpub]

when you enter your revenue with hst, after a few screens it will ask you to enter hst collected.  On the business statement the software will deduct hst.   Everything else entered should be without hst.

[MTLfreelancer]

I was wondering if you figured out where to enter 'QST collected' for the 2023 return? I can't find it and I'm sure this is affecting my income tax owed since 'total income' includes GST and QST/PST.

Thanks!

[MTLfreelancer]

Hi,

I was wondering if you found where to enter QST/PST collected, in Turbotax? This is driving me a bit crazy!

Thanks!

J

[perezosotaxes]

Hi @MTLfreelancer, I ended up including the provincial sale tax (PST) in line 3A, together with the GST that I had collected. I found this was reasonable since the form T2125 takes 3A minus 3B to obtain cell 3C, and since 3B explicitly indicates that it should include PST (as far as I undertand, QST is one of the PST's).

This is how I submitted it, although I am not an accountant or a tax consultant so please do not consider this as a professional advice.