How to apply GST for Pers Car used for Business

Question

Sep 5, 2007, 07:21 AM

LS Bookkeeping

New Member

Join Date: Sep 2007

Location: Toronto, Ontario

Posts: 2

How to apply GST for Pers Car used for Business

Hi I am doing the bookkeeping for a sole proprietorship they have a personal vehicle that they use approx 20% business.
This vehicle has a loan of 60 payments.
What i would like to know is how to allocate the 20% GST from the car to the business, can i do it all at once or do i have to allocate over the 60 payments.

Thanks,
LS

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