Hi There:
Thank you for your assistance on these sometimes very sticky and
complicated tax issues in advance. Here is my situation at
present: As a Canadian sole proprietor in British Columbia I
have residential rental income and commercial rental income
coming from a building with residential and commercial mixed use.
I also have residential income coming in from a small house in a
different location (same town). My Gross Income is more than
$30,000.00 per year for both. On top of this I am a Teacher On
Call and work for the district for a few days per month.
Here is my question: When I fill out the GST Remittance form for
this year, do I declare all of my gross earnings from both
commercial and residential rentals or do I declare all of my sole
proprietor earnings on this form. Furthermore, if I do declare
all of my rental income (residential and commercial) do I need to
be charging GST on the residential earnings as well? And if this
is the case, do I add all of my input tax credits from my
residential and commercial expenses into one lump sum? Your
assistance in this matter will be greatly appreciated.
===============================================
david ingram replies:
If you have registered for the GST, you will charge GST on the
commercial rentals only.
GST is not charged on residential rents.
For the combined residential and commercial building, you will
use all input credits on items expended for the commercial area
only and pro-rate the input credits for expenses dealing with the
whole building. If you paint the inside of the commercial
building, you would use all of the GST spent as an input credit.
If you repair the roof, you would pro-rate the GST on a
proportional square foot basis.
.
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