Calculation of the Amounts to Be Deducted

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Once you have calculated the GST and QST amounts to be remitted, add up the following amounts to determine the tax amounts to be deducted:

  • the input tax credits (ITCs) or input tax refunds (ITRs) you are claiming for purchases of or improvements to immovables or capital property
  • the ITCs (or ITRs) for property sold by a person acting as your agent
  • 60% of the tax adjustments that you gave in the period to buyers of certain property or services
  • any tax adjustment you gave or bad debt you wrote off during the period in relation to the sale of immovables or capital property

For an example of the calculation, click Calculation of Net Tax.

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