HST for Music, Photos, Subcontractors

Freelance Production

Freelance Production

Hello, I am a freelance producer and have a project where the full budget comes through my company.

The subcontractors were paid in full including HST for which they submitted invoices to pay on.

I had to purchase pre-produced music and stock photos for which I paid taxes.

My question is when I am submitting HST collected, how do I work with these expenses and such? Thanks!



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If you are using accounting software, the software handles the sales tax for you. All you will need to do is run your sales tax report for the appropriate reporting period.

I chat about how to handle GST/HST if you are using software … and if you are not (i.e. you are doing your books manually) … in this article:

https://www.bookkeeping-essentials.com/how-to-use-quickbooks.html

Once you've read that article, let me know if that answers your questions or you if still have some questions.

Comments for HST for Music, Photos, Subcontractors

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May 31, 2015
 Input Tax Credits
by: Lake

I should have mentioned that if you are a GST/HST registrant, then your input tax credits (the sales tax paid on business expenses) is a reduction to the amount of GST/HST charged and collected on your sales. You only remit the net difference to CRA.

Again this only applies if you are a GST/HST registrant.

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