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TOP TEN HST/GST ISSUES

Canada Revenue Agency – Top Ten list of HST/GST Issues

 

1.  Place of supply rules – Goods (B-103)

  • Generally, HST/GST charged based on where goods are delivered.  Special rules for leases, licence, or similar

2.  Place of supply rules – Services (B-103)

  • Generally, home or business address of customer determines place of supply for services.  Certain exceptions apply.

 3.  Place of supply rules – Intangible Personal Property (B-103)

  •   One of three rules may apply depending on the circumstances

4.  Recapture of input tax credits (B-104)

  • For large corporations only (Annual sales greater than $10 million) certain input tax credits are disallowed

5.  Indians in Ontario (GI-106)

  • Between July and September 2010 – rebate form available
  • After September 1, 2010 – point of sale rebate

6.  Estimation factors for calculating ITCs on expenses when using credit cards

  • Factor used should be 12/112 per CRA policy statement P-184

7.  Private purchases of cars and boats

  • Cannot recover the 13% paid when a vehicle is registered and tax is collected by the Minister of Transportation

8.  Electronic filing – Net file

  • Mandatory electronic filing if annual sales greater than $1.5 million

9.  Quick method of accounting

  • New rates apply – see RC4058

10.  Rebates

  • Housing rebates
    • GST New Housing Rebate (RC4028)
    • Ontario New Housing Rebate (GI-079)
    • RST Transitional New Housing Rebate (GI-088)
    • Transitional Tax Adjustment for a Grandparented Sale (GI-095)
  • Public Service Body Rebate
    • Rebate of the federal part (GST66)
    • Rebate of the provincial part (RC7066-SCH)

This entry was posted on Monday, November 1st, 2010 at 5:47 pm and is filed under GST/HST News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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