Getting My Tax Back On An Item That I Export

November 20, 2017

Getting My Tax Back On An Item That I Export

For individuals:

  • There is no provision for GST refund for individuals.
  • Also, there is no provision for GST off-set and you will not be able to reduce the value of the new item by a trade-in value.
  • GST will be assessed on the full purchase price.

For businesses:

  • If the item was purchased by a registered company.  That company would have taken the input tax credit at time of importation.
  • When exporting, it would be zero rated for export.
  • When the new item comes into Canada, it would be subject full GST, however the company would get to claim the input tax credit.
  • Valuation wise they would still have to pay on the full purchase value.