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 Form 8867 2014

2014-2025 Form

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Video instructions and help with filling out and completing Form 8867

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Instructions and help about Form 8867

HST for it professionals using the quick method how to calculate the HST under the quick method using an example of an IT professional operating in Ontario let's call this uh company uh the IT professional Corporation he's an annual uh GST filer in other words he files his um GST return once a year after his year end and he has a DE M 31st calendar year end it's an Ontario Corporation and Ontario is an HST Province where the prevailing HST rate is 133% now to illustrate how the uh calculation Works under the quick method uh we'll take a simple example uh we'll say his Billings uh to Ontario clients is $100,000 and since we mentioned the uh HST rate in Ontario is 13% so he's going to collect the $113,000 on the $100,000 of Billings to his uh to his uh Ontario clients uh he's also billing um clients in the United States $10,000 and since that's zero rated because it's export sales there's no uh GS or hsd coll

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