TTI develops Excel worksheets to help Canadian professionals solve tax challenges.

Please see our website, or contact us for more information. Were happ! to arrange a presentation or provide cloud access.
www.taxtemplates.ca " sales#taxtemplates.ca " $%&''%('$%&$()


T2125 & GST-HST Worksheet

This worksheet supports the integrated completion of the T*$*( + ,tatement of -usiness or Professional
.ctivities, and /,T%0,T return using the ,implified or 1uick methods.

2our clients situation3

Tax !ear ended 4ec 5$, *'$5
/,T%0,T method ,implified method
0,T rate $56
Income and general expenses
o Professional income $$5,'''
o .dvertising 7,(*'
o 89E $,&'&
o :ees and dues $,''' ;no 0,T included<
o Interest &' = $5' = **' >,4 = 5?'
.utomobile expenses
o :uel and oil *,&*(
o Insurance $,*''
o Parking )'7
o -usiness use, and maintenance receipts @about ?'6A ;total km unknown<
8ar $*, *'$5 $*,''' km
Bov $&, *'$5 **,''' km
0ome office expenses
o Electricit! 5,5)'
o Insurance &''
o -usiness use C'' D 7,'''
Ether information
o Computer purchase *,7&C
o CC. per T*$*( 7,*'' ;including assets carried forward<

Calculate the amounts to be reported on !our clients T*$*( and /,T%0,T return.
Mr. A
T2125 and GST / HST Worksheet
Tax year ended December 31, 213
! 1."
13."
Tax year ended
#$s%ness or &ro'ess%ona( %ncome 113,. ) ! 1,. HST or GST ! 13,.
*nc($s%on 'rom +$%ck method !
,ther %ncome ) ! ! HST or GST ! !
,ther ded$ct%ons ) ! ! HST or GST ! !
Ad-$sted .ross %ncome 1,.
Ad/ert%s%n. 0,52. ) ! 0,. HST or GST ! 52.
Mea(s and enterta%nment 1.ross2 1,33. ) ! 1,4. HST or GST ! 10.
#ad debts ! HST or GST ! !
*ns$rance ) ! ! 5o 6xc%se Taxes ! !
*nterest ) 34.53 34.53 5o 6xc%se Taxes ! !
#$s%ness 'ees, (%censes, etc. 1,. ) ! 1,. 5o 6xc%se Taxes o ! !
,''%ce ex&enses ) ! ! HST or GST ! !
S$&&(%es ) ! ! HST or GST ! !
7ro'ess%ona( 'ees ! HST or GST ! !
Mana.ement and adm%n%strat%on ! HST or GST ! !
8ent ) ! ! HST or GST ! !
Ma%ntenance and re&a%rs ) ! ! HST or GST ! !
Sa(ar%es, 9a.es, and bene'%ts ) ! ! 5o 6xc%se Taxes ! !
7ro&erty taxes ! 5o 6xc%se Taxes ! !
Tra/e( ) ! ! HST or GST ! !
Te(e&hone and $t%(%t%es ) ! ! HST or GST ! !
:$e( costs 1not 'or motor /eh%c(es2 ! HST or GST ! !
De(%/ery, 're%.ht, and ex&ress ) ! ! HST or GST ! !
Motor /eh%c(e ex&enses 3,3;. )
<<A / 6<7 c(a%med on T2125 0,2.
7r%/ate hea(th &(an &rem%$ms ! 5o 6xc%se Taxes ! !
,ther ex&enses 19%th tab$(at%ons2 ) ! ! 5o 6xc%se Taxes ! !
,ther ex&enses 19%th tab$(at%ons2 ) ! ! 5o 6xc%se Taxes ! !
,ther ex&enses ! 5o 6xc%se Taxes ! !
,ther ex&enses ! 5o 6xc%se Taxes ! !
,ther ex&enses ! 5o 6xc%se Taxes ! !
,ther ex&enses ! 5o 6xc%se Taxes ! !
,ther ex&enses ! 5o 6xc%se Taxes ! !
,ther ex&enses ! 5o 6xc%se Taxes ! !
5et %ncome 1(oss2 35,33.02 420. Sa(es ex&enses *T<s
GST / HST amo$nts 213 *ncome and sa(es ex&enses 1%nc($de any sa(es taxes2
2 Tab$(at%ons Sa(es tax content <ond%t%on 1 <ond%t%on 2
A&&ro/ed
GST / HST ca(c$(at%on
December 31, 213
Andre9 ,ct 1, 210

7re&ared
8e/%e9ed
1 3
<a(c$(at%on method
7er%od or re.%on
7ro&ort%on
HST rate
GST rate
7ST rate
S%m&(%'%ed method
<ond%t%on 1 <ond%t%on 2
Tem&(ate s$&&ort
T2125 tota( 0 5
;34;
;;35 = ;;34
;231
32;; / 351;
Deta%(s be(o9
Tax Tem&(ates *nc.
210!1!2>
12?2
Mr. A
T2125 and GST / HST Worksheet
Tax year ended December 31, 213
! 1."
13."
Tax year ended
A&&ro/ed
GST / HST ca(c$(at%on
December 31, 213
Andre9 ,ct 1, 210

7re&ared
8e/%e9ed <a(c$(at%on method
7er%od or re.%on
7ro&ort%on
HST rate
GST rate
7ST rate
S%m&(%'%ed method
<ond%t%on 1 <ond%t%on 2
Tem&(ate s$&&ort
Descr%&t%on
@eh%c(e 1
:$e( and o%( 2,325. ) ! 2,5. HST or GST ! 325.
*nterest ! 5o 6xc%se Taxes ! !
*ns$rance 1,2. 1,2. 5o 6xc%se Taxes ! !
A%cens%n. and re.%strat%on ! 5o 6xc%se Taxes ! !
Ma%ntenance and re&a%rs ) ! ! HST or GST ! !
Aeas%n. ! HST or GST ! !
,ther ex&enses 19%th tab$(at%ons2 ) ! ! 5o 6xc%se Taxes ! !
,ther ex&enses ! 5o 6xc%se Taxes ! !
#$s%ness $se &ercenta.e 1,13; 10,030 m >." m >."
7ark%n. ;0. ) ! 3. HST or GST ! 10.
,ther ex&enses ! 5o 6xc%se Taxes ! !
3,3;. 331.5
Mar 12, 213 12, 5o/ 13, 213 22, 345 10,030.13 m
!
Descr%&t%on
@eh%c(e 2
:$e( and o%( ! HST or GST ! !
*nterest ! 5o 6xc%se Taxes ! !
*ns$rance ! 5o 6xc%se Taxes ! !
A%cens%n. and re.%strat%on ! 5o 6xc%se Taxes ! !
Ma%ntenance and re&a%rs ! HST or GST ! !
Aeas%n. ! HST or GST ! !
,ther ex&enses ! 5o 6xc%se Taxes ! !
,ther ex&enses ! 5o 6xc%se Taxes ! !
#$s%ness $se &ercenta.e ! !
7ark%n. ! HST or GST ! !
,ther ex&enses ! 5o 6xc%se Taxes ! !
! !
!
!
#$s%ness $se &ercenta.e
BM / day Days ,dometer
T2125 tota( 5
GST / HST amo$nts
Sa(es tax content <ond%t%on 1
213 M%(ea.e reasonab%(%ty ! @eh%c(e 1
5 0 3
@eh%c(e 1 *T<s
Sa(es tax content <ond%t%on 1 <ond%t%on 2
GST / HST amo$nts
@eh%c(e 2 *T<s
#$s%ness $se &ercenta.e
! ! !
!
Tota( BM
Tota(
A%tres
Days
213 M%(ea.e reasonab%(%ty ! @eh%c(e 2
Aatest date Tota( BM
8e.%on A/era.e C / A
,dometer
#y '$e( ex&ense
#y ma%ntenance records
BM / day ,dometer
:$e( and o%( 1C2
Aatest date 6ar(%est date
3;.43
T2125 tota(
#y '$e( ex&ense
213 Motor /eh%c(e ex&enses ! @eh%c(e 1 1%nc($de any sa(es taxes2
1
2 3 4
#$s%ness k%(ometres
Tota(
2
#y ma%ntenance records
8e.%on
1
! ! !
,dometer Tota( BM
213 Motor /eh%c(e ex&enses ! @eh%c(e 2 1%nc($de any sa(es taxes2
A / 1km :$e( ty&e
A%tres A / 1km Tota( BM
Tota( k%(ometres
:$e( and o%( 1C2
:$e( ty&e A/era.e C / A
Tab$(at%ons
#$s%ness k%(ometres Tota( k%(ometres
0
<ond%t%on 2
6ar(%est date
Tax Tem&(ates *nc.
210!1!2>
12?2
Mr. A
T2125 and GST / HST Worksheet
Tax year ended December 31, 213
! 1."
13."
Tax year ended
A&&ro/ed
GST / HST ca(c$(at%on
December 31, 213
Andre9 ,ct 1, 210

7re&ared
8e/%e9ed <a(c$(at%on method
7er%od or re.%on
7ro&ort%on
HST rate
GST rate
7ST rate
S%m&(%'%ed method
<ond%t%on 1 <ond%t%on 2
Tem&(ate s$&&ort
Descr%&t%on
Heat ) ! ! HST or GST ! !
6(ectr%c%ty 3,3;. ) ! 3,. HST or GST ! 3;.
*ns$rance 3. 3. 5o 6xc%se Taxes ! !
Ma%ntenance ) ! ! HST or GST ! !
Mort.a.e %nterest ! 5o 6xc%se Taxes ! !
7ro&erty taxes ! 5o 6xc%se Taxes ! !
,ther ex&enses 19%th tab$(at%ons2 ) ! ! 5o 6xc%se Taxes ! !
#$s%ness $se &ercenta.e 4 0, 15." 15."
5>. 53.5
Asset
:$rn%t$re and '%xt$res 3 1." ! HST or GST ! !
,''%ce e+$%&ment 3 1." ! HST or GST ! !
Sma(( too(s 12 1." ! HST or GST ! !
Mach%nery 03 1." ! HST or GST ! !
5et9ork e+$%&ment 04 1." ! HST or GST ! !
<om&$ter e+$%&ment 5 2,034. 1." 2,2. HST or GST ! 234.
Asset
@eh%c(e 1 >." ) HST or GST 13." !
@eh%c(e 2 ! ) 5o 6xc%se Taxes ! !
GST / HST amo$nts
Sa(es tax content <ond%t%on 1 <ond%t%on 2 T2125 tota( 0 5 1 2 Tab$(at%ons
213 #$s%ness $se o' home ex&enses 1%nc($de any sa(es taxes2
3
<ond%t%on 2
GST / HST amo$nts
Sa(es tax content
A&&(%cab(e
HST or GST rate
*T<s
#$s%ness $se &ercenta.e
#$s%ness &ort%on o' <<A
1'rom T12
Sa(es tax content <ond%t%on 1 <ond%t%on 2
Sa(es tax
&er%od or re.%on
Tota(
Tota( area
<ond%t%on 2
<ond%t%on 2
<ond%t%on 2
<ond%t%on 2
GST / HST amo$nts
#$s%ness $se o' home *T<s
#$s%ness $se
&ercenta.e
Ac+$%s%t%on
1d%s&os%t%on2 /a($e
213 <a&%ta( assets 1%nc($de any sa(es taxes2
#$s%ness $se
&ercenta.e
#$s%ness area
<(ass
213 A((o9ab(e motor /eh%c(e *T<s based on <<A 1%nc($de any sa(es taxes2
T2125 tota(
Descr%&t%on
<(ass Descr%&t%on
<ond%t%on 2
Tax Tem&(ates *nc.
210!1!2>
12?2
Mr. A
T2125 and GST / HST Worksheet ! Tab$(at%ons
Tax year ended December 31, 213
! ) ! ) ! ) ! ) ! ) ! ) 34.53 ) ! ) ! ) ! ) ! ) ! ) ! )
3.
13.
224.53
3>.
#$s%ness or
&ro'ess%ona( %ncome
,ther %ncome ,ther ded$ct%ons Ad/ert%s%n.
Mea(s and
enterta%nment
1.ross2
*ns$rance *nterest
#$s%ness 'ees,
(%censes, etc.
,''%ce ex&enses S$&&(%es
1.4112454
8ent
Ma%ntenance and
re&a%rs
Sa(ar%es, 9a.es,
and bene'%ts
213 *ncome and sa(es ex&enses 1%nc($de any sa(es taxes2
213 ann$a( 'orex rates
D7E
6F8
FSD HBD .132>>35
.;;4410
1.2;;103
1.3431314
AFD
G#7
.15442
Tax Tem&(ates *nc.
210!1!2>
12?2
! ) ! ) ! ) ! ) ! ) ! ) ! ) ! ) ! ) ! ) ! ) ! ) ! )
,ther ex&enses
19%th tab$(at%ons2
,ther ex&enses
19%th tab$(at%ons2
7ark%n. Heat 6(ectr%c%ty Ma%ntenance
De(%/ery, 're%.ht,
and ex&ress
,ther ex&enses
19%th tab$(at%ons2
,ther ex&enses
19%th tab$(at%ons2
:$e( and o%(
Ma%ntenance and
re&a%rs
Te(e&hone and
$t%(%t%es
Tra/e(
213 #$s%ness $se o' home ex&enses 1%nc($de any sa(es taxes2 213 Motor /eh%c(e ex&enses ! @eh%c(e 1 1%nc($de any sa(es taxes2 213 *ncome and sa(es ex&enses 1%nc($de any sa(es taxes2
Tax Tem&(ates *nc.
210!1!2>
12?2
Mr. A
GST / HST 8et$rn
Tax year ended December 31, 213
1,.
!
!
!
1,.
14,44.532
13,3;.2
10,2.2
35,33.02
15>.2
35,233.02
! !
! !
! !
! ! !
! ! !
! ! !
! !
;;04
5otes
Tota(
Sa(es d$r%n. 213 ! <ond%t%on 1
Sa(es d$r%n. 213 ! <ond%t%on 2
<red%t on " rem%ttance rate Amo$nt Sa(es 8ate
Tota(
Sa(es d$r%n. 213 ! <ond%t%on 2
Sa(es d$r%n. 213 ! <ond%t%on 1
Sa(es 8ate Amo$nt
,ct 1, 210
1Sa(es 6x&enses2
1Motor @eh%c(e 6x&enses2 ;231
;;35 ! ;;34
;34;
#$s%ness or 7ro'ess%ona( *ncome
7re&ared
8e/%e9ed
A&&ro/ed
T2125 8econc%(%at%on
!
Andre9
! *nc($s%on 'rom +$%ck method
1,ther ded$ct%ons2
,ther %ncome
Ad-$sted Gross *ncome
!
G$%ck method ca(c$(at%ons
GST / HST on sa(es
Sa(es d$r%n. 213
<red%t on e(%.%b(e s$&&(%es Sa(es 8ate Amo$nt
32;; / 351;
!
5et *ncome 1Aoss2 #e'ore Ad-$stments
1#$s%ness Fse o' Home 6x&enses2
3521 ! ;2>5
;;05
! 1,ther Ad-$stments2
5et *ncome 1Aoss2
1<<A / 6<7 <(a%med on T21252
Tax Tem&(ates *nc.
210!1!2>
12?2
Mr. A
GST / HST 8et$rn
Tax year ended December 31, 213
,ct 1, 210 7re&ared
8e/%e9ed
A&&ro/ed
Andre9
:rom
8T1 213 ! 1 ! 1 213 ! 12 ! 31 S%m&(%'%ed method
1,.
1,.
13,.
13,.
1,3.
!
1,3.
11,>.
!
11,>.
!
11,>.
! 11,>.
13
1;
110
Tota( *T<s and ad-$stments
5et tax
11
111 GST / HST rebates
GST / HST d$e on ac+$%s%t%on o' taxab(e rea( &ro&erty
Tota( other cred%ts
#a(ance
8e'$nd <(a%med
#a(ance
Tota( other deb%ts
,ther cred%ts
112
113 A
115
25
05
7ayment 6nc(osed
,ther deb%ts
113 #
113 <
To
15
13
10
#$s%ness n$mber 5ame
Tota( GST / HST and ad-$stments 'or &er%od
Ad-$stments
,ther GST / HST to be se('!assessed
,ther ad-$stments
*nsta(ment and other ann$a( '%(er &ayments
1>
*n&$t tax cred%ts ! *T<s
Mr. A
11
Sa(es and other re/en$e
5et tax ca(c$(at%on
GST / HST amo$nts co((ected or co((ect%b(e
Ad-$stments
Sa(es and other re/en$e
#$s%ness / &ro'ess%ona( %ncome
Ad-$stments
14
<a(c$(at%on $sed
213 Goods and Ser/%ces Tax / Harmon%Hed Sa(es Tax 1GST / HST2 8et$rn
Tax Tem&(ates *nc.
210!1!2>
12?2