OT- Contractor

[phiscock-g851W1bGYuGnS0EtXVNi6w at public.gmane.org]

> Incorporation separates things nicely,
> plus you can buy your car inside the corp and not pay GST, or HST
> soon.
> Only your accountant can advise you on
> how aggressive you should be on what is a company purchase, and what
> is not.

My understanding is that stuff bought for resale gets a GST refund, or is
PST exempt. Stuff bought to operate the company (eg, computers, that are
not resold to a client) are taxable.

In fact, I had a PST inspector here at my premises to check that it was
being done properly. We passed, happily.

You also have to be careful in granting exemptions. I know of one company
that was audited and had to cough up thousands in PST payments because
they had been sloppy about granting PST exemptions.

Peter



-- 
Peter Hiscocks
Syscomp Electronic Design Limited, Toronto
http://www.syscompdesign.com
USB Oscilloscope and Waveform Generator
647-839-0325

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