HST Business Transition Supplement

How would you account for the HST transition supplement the government pays to qualified businesses?


I'm not sure if I should credit an HST related account or other income.

Thanks for your help.



image of fancy scroll lines



I would record it to your "Other Income" account as it is my understanding the payment is taxable income.



P.S. I would like to remind you there is a difference between information and advice. The general information provided in this post or on my site should not be construed as advice. You should not act or rely on this information without engaging professional advice specific to your situation prior to using this site content for any reason whatsoever.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to GST HST.

 
 

Back to top