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cbrcontrols
Level 1

Loan payments, is the gst considered zero rated, exempt, or out of scope?

what is an example of out of scope GST?

1 Comment 1
JamesM4
QuickBooks Team

Loan payments, is the gst considered zero rated, exempt, or out of scope?

Hello cbrcontrols.

 

Welcome to the QuickBooks Community. QuickBooks is an easy-to-navigate program that helps you to manage your accounting with ease. I'll be glad to share more info so you're on the right track with your work. 

 

In order to learn more about which tax code to use I highly recommend consulting an accounting specialist for expert suggestions. This ensures your books remain accurate while you continue to manage your work with peace of mind. You can also get in touch with a professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in. Otherwise, you can also reference the Canada Revenue Agency website for more info about the tax codes.

 

Let me know if this info helps. Otherwise, feel free to ask questions in the comments below.

 

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