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GST TAX ON HOA FEES

Posted By: Shyboy

GST TAX ON HOA FEES - 03/20/17 12:11 AM

I know tax?
Posted By: Shyboy

Re: GST TAX ON HOA FEES - 03/20/17 02:56 AM

Really sorry... I didn't look before I posted this.. It was supposed to read... " I know many of you know the answer to this".... I have had two opinions from people I trust.... Are we supposed to pay GST on HOA dues? Simple question...
Posted By: Jameela01

Re: GST TAX ON HOA FEES - 03/20/17 01:48 PM

Our HOA has increased due to the GST tax frown
Posted By: CaptOneIron

Re: GST TAX ON HOA FEES - 03/21/17 12:12 AM

I have no doubt everyone will say it is taxable but logic would tell you that this is money you are paying yourself or for your own benefit and that is not a taxable event.
Posted By: Judyann H.

Re: GST TAX ON HOA FEES - 03/22/17 01:49 PM

Hello Peter....This is a link that might help..... http://www.gst.gov.bz/overview.html ... We did pay GST during our HOA days however it did not start until the GST program was implemented around 2005, even then only 10% of the dues & services..... There was then an increase to 12.5% a few years later.... Some HOAs do not pay simply because they do not qualify for the minimum threshold amount..... The GST people are very helpful, a quick phone call to the department can get you the answers you want.....We have found them helpful, in fact they assigned us a direct agent for our first year to assist us with the proper filing..... You are a fair and intelligent business man I am confident once you talk to them, you will find what is needed. Wishing you the best....
Posted By: ragman

Re: GST TAX ON HOA FEES - 03/22/17 01:55 PM

Peter, I looked at one of my old statements and yes I've paid 12.5% also. We had some pretty competent people handling this and I'm quite sure it would not have been paid if not necessary.
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