- Canadian government releases draft legislative proposals for GST/HST rules for joint ventures
- Current regime limits access to joint venture election to specific activities
- Public consultation on draft proposals open until March 15, 2024
- Proposed changes aim to expand access to joint venture election rules
- Joint venture participants currently have to separately account for GST/HST
- Proposed election would simplify accounting by appointing an operator
- Limited access to joint venture election can result in inequitable treatment
- Disputes with CRA can arise when joint ventures operate as if election is in place
- Proposed changes aim to address these issues and provide clarity
Source: globaltaxnews.ey.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
