CPA Canada Commodity Tax Committee response to Finance Canada: GST/HST on financial services

Learn about the insights the Chartered Professional Accountants of Canada (CPA Canada) Commodity Tax Committee (CTC) has shared with the federal government regarding how GST/ HST applies to financial services.

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CPA Canada’s CTC has provided its input to Finance Canada on the application of GST/HST to financial services. This December 18, 2012 letter was submitted to Finance Canada’s Tax Policy Branch upon request, to assist with its examination of the current system of GST/HST on financial services.

What you will learn

In this letter, members of the CTC address the following three questions:

  1. What are your views on the current system?
  2. What are your observations on the different possible approaches to the value-added tax treatment of financial services?
  3. What would you recommend the government should do?