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FINANCIAL AFFAIRS

HST Accounts & Uses

The chart below lays out the various HST accounts in Mosaic and their uses.  Please note that the use of these accounts is directly connected to amounts and categories used to prepare HST returns and other information requested by the Federal and Ontario governments.

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.
  Revised October, 2018