Simplified or Quick Method Worksheet - Usage Scenario 2 (Harmonization)

Andrew Skujins -

Your client has a cell phone plan costing $50/month throughout the year, and on July 1, sales taxes harmonized from 5% GST + 8% PST to 13% HST

  • Set the following
    • GST Rate in Column 1 @ 5% 
    • PST Rate in Column 1 @ 8%
    • HST Rate in Column 2 @ 13%
    • Telephone and Utilities - Expense in Column 1 - $339
    • Telephone and Utilities - Expense in Column 2 - $339
  • The worksheet will calculate
    • ITCs in Column 1: $15
    • ITCs in Column 2: $39
    • Business expense: $624 (600 + 24 PST)
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