GST/HST Basics for Business Owners

The home-based business is one of the most common of self-employed enterprises. However, it’s fraught with audit potential because of the mixed use of home, car and other deductible items. As a home-based entrepreneur, you must be especially careful about allocating the personal use of inventory and other property used in the business—and be sure to account for this on the tax return.

This module will help you understand how a tax return for a home-based business is prepared and how to properly allocate home and business expenses. You will also learn the ins and outs of GST/HST payments, collection and rebates.