The Canada Revenue Agency recently reissued this policy statement under a revised name, which supersedes a previous version. The policy statement now reflects the new factors allowed on credit card expenses, effective January 1, 2008, due to the 2008 GST/HST rate reduction. In addition, the illustrative examples in the policy statement have been updated to reflect the current GST/HST rates and factors.
CRA Policy P-184
“Credit Card Expenses and the Registrant’s Use of Factors for Claiming Input Tax Credits”