Fund | Account | PeopleSoft Description | Long Description |
20 | 240000 | HST Payable to CRA | To record HST charged / collected by the University. |
20 | 240005 | GHST Payable to CRA | To record GST charged / collected by the University. |
20 | 240010 | OHST Payable to CRA | To record Ontario portion of HST charged / collected by the University. This account generally should not be used unless cleared with Financial Affairs. |
20 | 240100 | HST Input Tax Credit (ITC) | To recover 100% of the HST paid by the University for a good or service. This account generally should not be used unless cleared with Financial Affairs. |
20 | 240200 | HST Rebate (73.77%) | To recover the rebate of the HST paid by the University for a good or service. |
20 | 240205 | OHST Rebate (78%) | To recover the rebate of the Ontario portion of HST paid by the University for a good or service. Generally used in connection with a self-assessed tax. See account #240305. |
20 | 240210 | GST/HST Rebate (67%) | To recover the rebate of the Federal portion of HST paid by the University for a good or service. Generally used in connection with a self-assessed tax. See account #240300. |
20 | 240215 | HST Rebate - Books (100%) | To recover 100% of the HST paid by the University for a qualifying book. |
20 | 240220 | HST Rebate - Taxable Real Prop | To recover HST paid on the acquisition of real property. Financial Affairs use only. |
20 | 240300 | Self Assessed GST/HST Payable | To self-assess GST or HST payable on a good or service imported into Ontario. A corresponding rebate can then be claimed. See accounts #240200 or #240205. |
20 | 240305 | Self Assessed OHST Payable to | To self-assess the Ontario portion of HST payable on a good or service imported into Ontario. A corresponding rebate can then be claimed. See account #240205. |
20 | 240380 | Investment Self Assess Clearing | Clearing account. Financial Affairs use only. |
20 | 240400 | HST Refund | Clearing account. Financial Affairs use only. |