Entrepreneurship & Small Business

Cell phone repair business tools expense

  • Last Updated:
  • Feb 15th, 2021 6:58 pm
[OP]
Newbie
Apr 23, 2020
25 posts

Cell phone repair business tools expense

Hello everyone,
I'm starting my own cellphone repair business I just want to purchase tools and equipment I understand that the tax I would pay I can claim it back but how I can declare the transaction as business expense I mean into what category falls under?
From CRA and accounting point of view what should I declare?

Thank you
2 replies
Deal Fanatic
Jul 26, 2007
6420 posts
3982 upvotes
Toronto
When you file your hst remittance, you need 1.total sales 2.hst collected and 3.hst paid.

For 3, it's total hst from expenses you had paid duration of the period you are reporting. Main things are inventory purchases like solder and ic parts. Reoccurring items like rent and utilities. Tools and equipment purchased would go as well and that total hst claiming amount would vary because of that from reporting period to period.
Deal Expert
Feb 24, 2007
15089 posts
2681 upvotes




Definitely do not want to rain on your plans but I think you are at least a decade too late. Sorry.

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