GST - How to calculate / manage / track GST.

Cam Ellison cam at ellisonpsychology.ca
Tue Mar 27 17:54:13 EDT 2007


Tracy Humphrey wrote:
> We just purchased a fixed asset for the company, can we write-off all the GST owing on it?

You bet.  You can always write off GST, as long as you're collecting it. 
  The asset must be amortized, of course, but the GST is deductible 
immediately.  After all, the retailer from whom you purchased the asset 
must immediately remit the GST that you paid.

If you need to know more, there's an explanation of how to set it up in 
the Wiki.

Cam


-- 
Cam Ellison, Ph.D. R.Psych. #1417

Cam Ellison & Associates Ltd.
3446 Beach Avenue
Roberts Creek BC      V0N 2W2
Phone:           604-885-4806
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