April 26th, 2024
Plan Ahead to Overcome Increased Capital Gains Inclusion Rate
(authored by RSM CANADA) Exploring tax planning strategies in the face of the proposed increase to the capital gains inclusion rate.
Posted on December 11th, 2023 in Domestic Tax, Tourism & Hospitality
As of October 2022, merchants could charge an additional fee for accepting payment via credit card. In a March 28, 2023, Technical Interpretation, CRA opined that the additional fee would be a separate exempt supply of a financial service and, therefore, not subject to GST/HST if all of the following conditions are met:
ACTION ITEM: If charging an additional fee to accept credit cards, ensure you satisfy the above conditions to ensure the fee is not subject to GST/HST.
Article originally published in: Tax Tips & Traps 2023 Fourth Quarter – Issue 144.
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