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New Member
posted Apr 20, 2024 10:11:51 PM

When filling out form T2125, for total revenue, do I include all GST/PST that I collected in the total?

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2 Replies
Intuit Alumni
Apr 22, 2024 7:26:32 AM

Please see this Canada Revenue Agency (CRA) T2125 guide to help you enter your information correctly according to your information.

 

Thank you for choosing TurboTax.

Level 3
Apr 22, 2024 8:01:24 AM

As per the Canada Revenue Agency (CRA):

When filling out form T2125, you have some items that need to be included, please see as following:

At amount 3A, enter the gross sales, commissions or fees (including GST/HST, collected or collectible).

At amount 3B, enter any GST/HST, provincial sales tax, returns, allowances, discounts and GST/HST adjustments (included on amount 3A).

 

If you are using the quick method of accounting to calculate your GST/HST remittances, calculate government assistance as follows:

  • At amount 3D, enter GST/HST collected or collectible on sales, commissions and fees that are eligible for the quick method
  • For each applicable remittance rate, include the sales, commissions and fees eligible for the quick method plus GST/HST collected or collectible. Multiply this amount by the quick method remittance rate and enter the result on amount 3E. This is the amount you enter on line 105 of your GST/HST return (or line 103 if you are filing your GST/HST return on paper)
  • The subtotal at amount 3F is amount 3D minus amount 3E

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