Background

The GST on School Generated Fund expenses are eligible for a 68% rebate.

Procedures

1. The rebate will be entered and tallied using QuickBooks at the school level.

2. GST should be recorded as indicated on the receipt/invoice when entered in to QuickBooks.

3. A General Ledger Report for the GST Receivable account will be generated which will indicate all GST paid out for the year.

4. The principal shall submit to the Superintendent of Finance by June 30 and January 31 each year.

5. The principal shall keep original documentation of their file for seven years.

6.  See AF-511 SGF Procedure Manual.pdf  for more details regarding the entry and claiming of GST


Reference:  Sections 85, 87, 109, 110, 175, Education Act

July 23, 2013