![]() If you are uncertain as to whether a supply is made in a participating province, see GST/HST Technical Information Bulletin B‑103, Harmonized Sales Tax – Place of Supply Rules for Determining Whether a Supply is Made in a Province. The GST applies in the rest of Canada at the rate of 5%. The HST applies in the participating provinces at the following rates: 13% in Ontario and 15% in New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island. Reference in this publication is made to supplies that are subject to the GST or the HST. If you wish to make a technical GST/HST or QST enquiry related to SLFIs, please call 1‑855‑666‑5166. You may also visit the Revenu Québec website at revenuquebec.ca to obtain general information.įor listed financial institutions that are selected listed financial institutions (SLFIs) for GST/HST or Quebec sales tax (QST) purposes or both, whether or not they are located in Quebec, the CRA administers the GST/HST and the QST. If you are located in Quebec and wish to request a ruling related to the GST/HST, please call Revenu Québec at 1‑800‑567‑4692. ![]() GST/HST Memorandum 1-4, Excise and GST/HST Rulings and Interpretations Service, explains how to obtain a ruling or an interpretation and lists the GST/HST rulings centres. If you require certainty with respect to any particular GST/HST matter, you may request a ruling. If this information does not completely address your particular situation, you may wish to refer to the ETA or relevant regulation, or call GST/HST Rulings at 1-80 for additional information. The information in this publication does not replace the law found in the ETA and its regulations. With the FreeAgent mobile app you can sort out your expenses as you incur them by snapping receipts with your phone and uploading them to FreeAgent from wherever you are.Except as otherwise noted, all statutory references in this publication are to the provisions of the Excise Tax Act (ETA). Software for tracking costs and expensesįreeAgent allows you to track business costs and expenses quickly and easily. The term ‘expenses’ is sometimes used to refer to all of a business’s day-to-day running costs, such as staff wages. Our guide to out-of-pocket expenses for employees has more information on which expenses can and can’t be repaid. This includes limited company directors who are employees of their own company.Įmployers are subject to rules from HMRC about what they can reimburse without incurring extra tax. Out-of-pocket expensesĪn ‘out-of-pocket’ expense is a cost that is paid for by an employee or business owner and is later reimbursed by the business that employs them. More information about allowable expenses can be found in our guide to expenses for the self-employed and on HMRC’s website. Employers should include these items when reporting end-of-year expenses and benefits to HMRC. Limited companies are subject to different rules for allowable expenses but can deduct business costs from their profits when calculating how much Corporation Tax they owe.Įmployers may have to report any items that employees (including limited company directors) make personal use of as a potentially taxable benefit. office costs (including premises costs, such as heating).the tax year or the business’s accounting year).Īllowable expenses include a variety of running costs that may be incurred while running a business. Self-employed sole traders and partners in a partnership can deduct ‘allowable expenses’ when working out how much taxable profit their business made over a period of time (e.g. In the context of small business accounting or bookkeeping, the term ‘expenses’ may refer to: Allowable expenses The word ‘expenses’ can be used to describe several different types of cost but it usually indicates that the cost can be reimbursed in some way. ![]() What are expenses? Definition of expensesĮxpenses are a type of business cost.
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