HST remittance formula

[Derek Atkins]

Hi,

Alas, I don't think this would be doable from the SX interface because
you're missing one key function:  "balance-as-of-date()", which you
would need in order to compute the amounts you need.  :(

So I don't think it would fit into SXes.

Now, you may be able to write a "report" that would compute it for you
and even add the necessary transactions for you.  For example, you could
look at the "Close Books" feature as a base for something that looks at
balances, does something with them, and creates a transaction as a
result.  Obviously the meat of the feature would need to be changed for
you.

Hope this helps,

-derek

Ron Stone <ronstone at ncf.ca> writes:

> Hello all,
>
> First - I am fairly new to GnuCash and, having heard about it for
> years, wish I’d started sooner. It is a robust app and my hat is off
> to everyone who has contributed.
>
> My question is about Canadian HST (Harmonized Sales Tax) - a
> combination of provincial sales tax and federal GST collected and
> administered together in some provinces.
>
> Small businesses can elect to use a ‘simple method’ for calculating
> the HST they need to remit at the end of each period (in my case every
> quarter). Instead of tracking every sale and every purchase to come up
> with a number, they can remit a percentage based on total sales.
> For example, in Ontario HST is 13%. The quick method might require
> that I remit 7.5% of total sales. For businesses such as consultants
> who do not have a lot of purchases, it means you actually keep some of
> the HST (which becomes taxable income).
>
> The 7.5% above was just a number to illustrate, but there is a
> wrinkle. For most businesses (mine at least), the percentage you remit
> is lower on the first $30,000 and then jumps on the rest of your
> income for the year. Say, >=30k = 7.5%, and <$30k=8.5.
>
> My question is if a formula could be written for a scheduled
> transaction to calculate what I owe at the end of each quarter and
> what I’ll have to track as income on my business taxes (the amount
> from the HST collected that I remit and the amount that I keep). I
> have not seen any examples of querying account data from a script, so
> I’m not sure if it is doable. You would need to know how much you have
> sold in the past quarter and how much of that is above/below the $30k
> threshold.
>
> I am using 2.6.3. 
>
> If it is doable, and anyone cares to lend their expertise, it may help
> document some powerful features of Gnucash.
>
> Many thanks,
> Ron
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-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available