Self Employed commmision sales

[zx3434]

Iam self employed and work from home, on the road meet clients.
company advances mothly draw yr end send an invoice + hst 13% of income.
Can I cliam and recover any of this 13% before submitting to CRA??

[Islington]

Yes, if you have HST input tax credits.

If your annual revenue is less than $200K and you don't have many direct expenses (on which you pay HST), then you might be better off keeping about 1/3 of the HST you collect by registering for the Quick Method.

[hvc]

Whoa, holy english Batman.

I would seek the advice of an accountant/business advisor. You should calculate both the quick method and the regular HST method, and see which one nets you the most. Keep in mind that the savings you keep from the Quick Method is recorded as Other Income and therefore taxable on your T2 return. I'm guessing it will still be more beneficial for you to use the Quick Method, but again, it depends on many other variables (Sales, ITCs, etc.)