News and Insights

Canada Revenue Agency GST/HST Policy Statement P-184

Tax Development Jul 23, 2008

“Credit Card Expenses and the Registrant’s Use of Factors for Claiming Input Tax Credits”

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