Canadian Tax System

Canadian Tax System

LeasePak calculates tax on assets depending on the location defined for a particular asset(s). Canadian tax system behaves differently from other countries (for example USA, Mexico etc) tax system. For Canadian asset(s), LeasePak client considers state level tax rates as Federal tax rates (GST/HST) and city level taxes as Provincial tax rates (RST/QST/RST) to be charged on an asset(s). To consider and calculate tax on an asset(s) of Canadian location users must setup the following settings:

1. U0712 Custom General → Miscellaneous customization a switch Canadian Tax System must be selected.
2. U0712 Custom General → Miscellaneous customization switch Canadian Tax Rounding must be selected to apply rounding of tax amount.
3. Asset must have Canadian location city and states with Canadian zip code.
4. U0713 State – Setup appropriate Federal and Provincial level tax types and tax rates.
5. Pre and Post EOP Custom Scripts (Sample script provided with LeasePak client).

Following are the required steps to extract Canadian use tax disbursal reports by running U0449:

1. Copy following two XSLT files from LeasePak client installation directory to $udata directory for use:
   1. u0449a_xml_to_cand_a.xsl
   2. u0449a_xml_to_cand_b.xsl
   3. u0449d_cand.xsl
   These XSLT files are located in client side installation directory, same as all other XSLT template files reside in LeasePak.



2. Two sample script files available in $ubin directory with permission setup to 550 only named "pre_eop.sh" & "post_eop.sh". The "post_eop.sh" has sample commands by default so that it can transform $udata/pXX_lpu0449a.xml into new pXX_lpu0449a_cand_a.rpt & pxx_lpu0449a_cand_b.rpt XML files into $ueop directory using XSLT files. (U0449a_xml_to_cand_a.xsl and U0449a_xml_to_cand_b.xsl)



3. Setup pre_eop.sh and post_eop.sh custom scripts in U0212 Portfolio → EOP Customization Pre-EOP User Command Procedure and Post-EOP User Command Procedure fields to execute the provided scripts in EOM as part of U0449 job.



4. Users can view activity log in the following two files from $ueop directory:
   • pXX_u0410_spawn.log
   • pXX_u0449_spawn.log

Where xx is a portfolio number.

 

LeasePak  Documentation Suite

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