Ask An Expert
Do you charge GST on interest revenues?
Expert: Hank Bulmash
Garry asked:
Do you charge GST on interest revenues. Will the earning of interest income impact on my ITC claim? How much interest can you earn as part of your overall revenues and still claim your full ITC's?
Hank Bulmash answered:
Interest revenues and interest expense are not subject to GST/HST. So the amount of interest earned by your reader will have no impact on his GST/HST position at all.
About the author
Hank Bulmash is a chartered accountant for Bulmash Cullemore LLP.
Visit their website at: http://www.bulmashcullemore.com.
