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SylvieFB
Level 2

recording HST instalments for a small business

Where do I record HST instalment payments made in 2022 on a small business T2125? Or is it recorded on another form?

1 Comment 1
JRBooks1
Level 3

recording HST instalments for a small business

HST is a balance sheet item; the T2125 is strictly an income statement form.  It is true that one is now required to report "total" income as in gross income plus GST/HST charrged to clients, but that is so CRA can identify taxpayers who should be registered for GST/HST but who aren't.  For a sole proprietor, the HST installments would go on the GST/HST return and aren't anywhere near the T1.

Hope this helps,

Jo