News and Insights

CRA Policy Statements P-119

Tax Development Dec 29, 2009

“Trailer Commission Servicing Fees” and P-239, “Meaning of the term ‘arranging for’ as provided in the definition of ‘financial service’”

The Canada Revenue Agency has added comments at the beginning of these policy statements in reference to the legislative proposals clarifying the application of GST/HST with respect to the scope of the definition of “financial service” in the Excise Tax Act.  These proposed amendments would impact the application of GST/HST to situations and circumstances described in these policy statements.