Recording GST/HST Rebate
GST/HST Rebate amounts should not be recorded as an income amount in the accounting records. Nor should it be included in calculation for budget purposes. The amounts rebated will be reflected in the reduced expense totals.
GST/HST Rebate payments are posted as a deposit. GST Rebates should be posted to the GST/PST Receivable accounts and not as an income.