News and Insights

CRA Publications Update Resulting from the GST Rate Change

Tax Development Jan 23, 2008

On January 1, 2008, the GST rate decreased from 6% to 5% and the HST rate decreased from 14% to 13%. The tax highlights forJanuary 2008 include a number of revisions to Canada Revenue Agency guides solely for the purpose reflecting the GST rate change. We expect that many other Canada Revenue Agency tax guides will be updated in the upcoming months to reflect this recent GST rate change and we urge our clients to check for the most current version of any Canada Revenue Agency guide on their publications web page or with the Ryan Client Resource Centre at 1-800-667-1600 when making decisions concerning the application of GST/HST.