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What figure do you use to pull out the HST amount?
Expert: John R Mott
C. Savage asked:
What figure do you use to pull out the HST amount from an all-included price?
John R Mott answered:
If the HST rate is 13 per cent, then you must multiply the all-inclusive price by 13/113 to extract the HST amount.
About the author
John Mott is a chartered accountant and tax specialist with a private practice in mid-town Toronto. He provides tax, accounting and advisory services to individuals and small businesses. He may be visited online at: johnmott.com.