Subsection 185(1) - Financial Services – Input Tax Credits
See Also
Revenue and Customs v Frank A Smart & Son Ltd (Scotland), [2019] UKSC 39
The taxpayer (“FASL”) purchased entitlements to an EU farm subsidy, which generated annual subsidies over several years (which initially...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 141.01 - Subsection 141.01(2) | input credits were available for fund raising costs of a taxable business | 542 |
Mac's Convenience Stores Inc. v. The Queen, 2012 TCC 393
Hogan J. found that the registrant, a convenience store operator, was entitled to input tax credits for its purchase of automated banking...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Financial Service - Paragraph (l) | core service re store ABM was provision of space | 153 |
Administrative Policy
19 November 1996 Interpretation File No 11590-5 HQR0000358
Regarding the GST status of expenses incurred by a Canadian corporation in buying back its shares, the Agency stated:
[T]he redemption of a...
P-108 January 26, 1994 "Raising of Capital"
Regarding the situation of a corporation which was formed in order to acquire and operate a nine-storey commercial building, and issued shares...
P-094 December 20, 1993 "Application of Subsections 185(1) and 186(1) to Holding Companies" [stated to be obsolete in 29 September 2003 notice].
A holding company that is not a financial institution may rely on either subsection 185(1) or subsection 186(1) to claim input tax credits,...