Hi Everyone, I am totally lost with this reporting. My client has a straight forward (Self employed) business income of $36,671 and has no home office or any expense to offset the income. So I decided to use quick method to reduce his HST payable. Applicable rate is 8.8% for 13% HST rate so I have the following
(fees 36,671, HST payable 2,863 and Adjusted business income 33,908).
I don’t understand how he can still come up with tax due of $8,000
Can anyone help