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TaxScratching

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  1. Very similar to an earlier question of mine.... The Self employed commission box (020) includes the entire commission (my portion and the Broker's portion, including GST) that I collected as part of my sales person commission for the sale of real estate. So, as a simplified example; The total commission collected is 10,000. Of that, 7,000 goes to me and 3,000 goes to the broker. My T4A reports the full commission (10,000). How/where do I deduct the 3,000 so I'm not including that as part of my net income? Thanks for any help!
  2. The Self Employed Commission amount reported (from real estate salesperson commission) on my T4A slip includes the amount of GST collected on the commission. So; If , for example, the Commission amount reported is 10,000 and of that there was 1,300 in GST collected then my net income (not considering all the other aspects) should be reported on my return as 8,700.....correct? (since I've already remitted the 1,300 as part of my GST filing) How do I claim that 1,300 on my income tax return in order to reduce my taxable income amount? Thanks!
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