How to Charge GST on Your Materials – The Contractor (3 min read)

By |2021-10-24T09:53:19+00:00October 11th, 2016|Uncategorized|

 By Alissa Bryden, CPA, CA Contractors often ask me about how to charge GST on the materials included on their invoices. There are two main ways contractors can create their invoices. One where the materials are paid for by the client as a reimbursement and one where the materials are part of the sale price. It is important to note that GST charged on your invoices is called “GST Collected”. GST paid when you pay for the materials are called “ITC’s”. When you remit a payment to the Canada Revenue Agency you net these two. Reimbursement When a client is paying the materials as [...]