Simplified or Quick Method Worksheet - Usage Scenario 1 (HST increase)

Andrew Skujins -

Your client has a cell phone plan costing $50/month throughout the year, and on July 1, the HST rate increased from 13% to 14%

  • Set the following
    • HST Rate in Column 1 @ 13% 
    • HST Rate in Column 2 @ 14%
    • Telephone and Utilities - Expense in Column 1 - $339
    • Telephone and Utilities - Expense in Column 2 - $342
  • The worksheet will calculate
    • ITCs in Column 1: $39
    • ITCs in Column 2: $42
    • Business expense: $600
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