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   Writing repair estimates on Property claims.
P:  3/4/2009 11:02:45 AM
DM1

Member

Total Posts: 1
Last Post: 3/4/2009
Member Since: 3/4/2009

Hello,

I am new here, I am a examiner in Ontario Canada and I recently had an insured challenge how restoration contractors write restoration estimates.  Up here, we get an estimate to repair, then 10% overhead and profit are added, with 5% GST (tax) being added on everything.  His argument was that the GST should be charged on the work, not the overhead and profit.  Is there any website or information anyone can provide that lays out how estimates are to be written?  I have been searching all over, and cannot find anything useful.  Thanks in Advance. 
 
Dave

Revisions : 0   |    Posted:  3/4/2009 11:02:45 AM   |   IP:  Recorded    |    Report this post


 There are 2 replies to this message.  There are 2 replies on this page.

P: 3/5/2009 4:21:33 PM
TRon

Member

Total Posts: 283
Last Post: 7/6/2012
Member Since: 9/30/2006

In writing that estimate, which program do you use?
 
I believe the sales tax is added prior to the 10% Overhead and 10% Profit. The contractor should get 10 & 10 on the sales tax, because he has to manage the payment of the sales tax.
 
I do not believe sales tax should be added to the O & P.
 
This is how the estimating program I have used for many years calculates it
 
However, I have never had the opportunity to adjust in Canada.

 

I Post Large, it is easy on old eyes!!

Revisions : 0   |    Posted:  3/5/2009 4:21:33 PM    |    IP:  Recorded    |    Report this post
P: 12/2/2009 9:49:01 PM
George Milnes

Member

Total Posts: 11
Last Post: 9/8/2010
Member Since: 9/5/2006

Goods and Service Tax (GST) is applied to the total net after Overhead and Profit are calculated. Check with Revenue Canada!

Revisions : 0   |    Posted:  12/2/2009 9:49:01 PM    |    IP:  Recorded    |    Report this post

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