Thread: GST Question
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Old 05-21-2019, 09:59 PM
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Moosetalker Moosetalker is offline
Join Date: Jul 2012
Posts: 487

Just a heads up you only have 5 years from purchase date to counter claim GST against GST collected Equipment purchases have different rules than CCA with Revenue Canada.

I made a big cash outlay to purchase landscaping equipment back when GST was 7%, Harper cut it back to 5% long story short with all the extra GST spent for fuel, oil, maintenance, repair etc it exceeded GST collected lost about 5k in GST That just ran out of reclaim time.
Wish I had been able to spread purchases out over a couple of years might have recouped a bit more.

System is geared to make you expand company, not Mom an Pop type business friendly.
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