Hi
I have recently started a new company performing part time carpentry and woodworking.
The business is in my name.
I have no GST/HST number at this time as I don't think I will be going over $30,000 annually.
Scenario:
If I do a job for a customer or contractor to build and install some cabinetry for example.
I purchase the materials at local suppliers from my own funds or money forwarded from the client. I pay the HST on the material purchases.
Question:
Do I loose the HST I paid on the materials from the suppliers if I can't invoice for the HST to the client?
Can I mark up my materials within the invoice total to account for HST taxes I paid to suppliers and give the client a total cost for the item supplied?
Or can I take deposit(s) for the material costs and purchase the materials on the clients behalf for the project and give the client the invoices for their own use?
Any help clarifying this matter would be appreciated.
I have recently started a new company performing part time carpentry and woodworking.
The business is in my name.
I have no GST/HST number at this time as I don't think I will be going over $30,000 annually.
Scenario:
If I do a job for a customer or contractor to build and install some cabinetry for example.
I purchase the materials at local suppliers from my own funds or money forwarded from the client. I pay the HST on the material purchases.
Question:
Do I loose the HST I paid on the materials from the suppliers if I can't invoice for the HST to the client?
Can I mark up my materials within the invoice total to account for HST taxes I paid to suppliers and give the client a total cost for the item supplied?
Or can I take deposit(s) for the material costs and purchase the materials on the clients behalf for the project and give the client the invoices for their own use?
Any help clarifying this matter would be appreciated.
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