New GST/HST Notice 339, published on October 25, 2024, provides that as of the first day of the fiscal year that begins on or after January 1, 2025, dentists will no longer be able to claim GST/HST ...

Judicial precedents confirm that where goods or services support taxable supplies, only proportionate ITC reversal is permitted. Complete denial of credit would violate the value-added taxation ...

On June 9, 2022, the Tax Court of Canada (“TCC”) allowed CFI Funding Trust’s (“CFI”) appeal in relation with the input tax credits (“ITC”) it claimed for prepaid rent paid in connection with the ...

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. The introduction of GST brought about ...

Insurers will no longer be able to claim input tax credit (ITC) on Goods and Services Tax (GST) paid on commissions and brokerage for individual health and life insurance policies from September 22, ...

The government’s decision to exempt health and life insurance premiums from the 18 per cent Goods and Services Tax (GST), effective September 22, 2025, has been welcomed as a big step toward ...

Courts have increasingly held that Input Tax Credit cannot be denied to bona fide taxpayers merely because suppliers failed to pay GST. Authorities must prove fraud or collusion before disallowing ...