The Canada Revenue Agency (“CRA”) has issued a new version of GST/HST Technical Information Bulletin B-032, “Expenses Related to Pension Plans”, to replace the previous one dated August 2011, and entitled “Registered Pension Plans”.
The previous bulletin discussed the CRA’s interpretive and administrative positions in regards to registered pension plans, including eligibility for input tax credits (“ITCs”) related to employer expenses, plan trust expenses, in-house supplies, and imports. However, the new document focuses solely on pension plan expenses, and the availability of ITCs to an employer that is registered for GST/HST and incurs expenses on behalf of its pension plan.
Further information specific to pension plans can be found in GST/HST Notice 257, “Draft GST/HST Technical Information Bulletin, The GST/HST Rebate for Pension Entities", as well as GST/HST Technical Information Bulletin B-108, “Changes to GST/HST Rules for Pension Plans – New Section 157 and Amendments to Section 172.1”.
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- Sales Tax