Financial Services

Financial Services

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HST On External Sales - HST Collected

General Information

Queen's is registered for GST/HST purposes and therefore is required to charge and collect the applicable GST/HST on all taxable supplies of goods and services made available (sold) in Ontario and in Canada. The HST collected is accounted and reported on a monthly basis by Financial Services to the CRA. Taxable supplies are supplies that are made in the course of a commercial activity and include zero-rated supplies. As a general rule, most services supplied by Queen's are exempt and most goods supplied by Queen's are taxable.

HST collected should be recorded to Account 210080 using the same fund and department as the revenue associated with the HST collected.

The Community is encouraged to review, on a regular basis, all activities which generate external revenue and to determine whether these transactions are taxable for HST purposes. Generally speaking, internal transactions between business units are not taxable for HST purposes as they are within the same entity.

1.1 General Considerations
1.2 Exemptions & Rebates
1.3 HST Rates by Sales Type
1.4 Decision Tree - HST on External Sales

If you have any questions or concerns, please contact us.