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
Fax: 604-885-4809
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