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Employee versus Independent Contractor and Taxation of Payments (HRIS vs FIS)

…collect Harmonized Sales Tax (HST) in respect to those payments (see Payroll and the HST). Integral to determining the appropriate tax treatment is the determination of an individual’s relationship with…

Taxation

…Payments (HRIS vs FIS) [Human Resources, Payroll and Benefits] Harmonized Sales Tax (HST) [Purchasing and Payments to Vendors] HST – University Sales [External Revenues and External Expense Recoveries] The following…

Internal Revenues and Internal Expense Recoveries

…goods and an indication that goods were from inventory. the date the goods were delivered. Tax codes Internal charges and credits are not subject to HST. However, these charges normally…

Human Resources, Payroll and Benefits

…related to the important decision of whether an individual should be treated as an employee or as an independent contractor for tax purposes. Payroll and the HST This section identifies…

HR Payroll and Benefits Overview

…such as: staff planning and development; work/life support, equity of U of T, labour relations and environmental and occupational health and safety. Moving Expenses Payroll and the HST Personal Expense…

Certified Invoices

…funding source (fund and/or fund center) cost allocation (cost center or internal order) tax code based on the HST status of the supplier (included in invoiced amount, or exempt): print…

Objective and Responsibilities

…Approval and Execution of Contracts and Documents; faculty/division policies and procedures with respect to contractual commitments; applicability of HST to sales. Takes responsibility for: investigations into credit-worthiness of customers, consulting…

External Revenues and External Expense Recoveries

…Collect Amounts Due Payment Terms Accounting for External Revenues and External Recoveries Accounts Receivable, Collection Responsibilities and Uncollected Amounts HST – University Sales Additional Assistance   External Revenue/Recovery Transactions An…

Travel and Other Reimbursable Expenses – Policies and Guidelines

Policy for Travel and Other Reimbursable Expenses Objective Scope Key Principles Approvals and Responsibilities Guidelines for Travel and Other Reimbursable Expenses Objective Overriding Guidelines Methods of Payment (Personal Credit Card,…

Guide to Financial Management

This guide is a key resource for financial administrators, staff and faculty on how to handle financial related matters at the University of Toronto. The following four boxes represent the…