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The following information relates to Corporation J and its transactions during the year. The corporation provides consulting services across Canada and has trademarked one of
The following information relates to Corporation J and its transactions during the year.
- The corporation provides consulting services across Canada and has trademarked one of its lines of service.
- It reports and pays its GST/HST on a quarterly basis.
- The corporation owns a four-story office building in Alberta, where it has its headquarters. It leases three of the floor to commercial tenants.
- Lease payments from tenants of $300,000 are due on July 1 and January 1 of each year.
- On May 15 mailed a $80,000 invoice for consulting services to a located client in Manitoba.
- On July 10 entered a written agreement with a large client based in Ontario for services worth $800,000 for work to begin immediately. The first payment of $200,000 under the agreement is due on August 15 and subsequent payments are due when billed by Corporation J.
- On October 23 entered an agreement for trademark rights with another consulting firm based in Quebec to allow the use of Corporation J's trademark in the province of New Brunswick only. On November 5 mailed a $75,000 invoice to the consulting firm for use of the trademark.
Assuming the only transactions that the corporation had during the year are per above, how much GST/HST would the corporation collect and remit for each reporting period of the year?
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