HST returns - the basics
The pieces
- Line 101 - total sales and other revenue for the period
- Line 105 - HST collected (13% in Ontario)
- Line 108 - input tax credits (HST paid on purchases)
- Line 109 - net tax = 105 minus 108
From QBO
Run the Sales Tax Liability report for the period and tie the numbers to the GST/HST Payable account. Any difference must be explained before filing.
Common problems
- ITCs claimed on exempt or personal items
- Prior-period entries posted after the last filing (opening balance won't tie)
- Wrong tax code on a large transaction
See Procedures > HST working paper for the full firm procedure.