- Crowdfunding funds are subject to GST/HST
- Different rates apply in different provinces
- Crowdfunding platform operates on a reward-based system
- Platform fees and payment processing information provided
- Contract formed between project creator and supporters
- Project received a certain amount of funding
- Information on reward packages and delivery provided
- Request for ruling on tax status of supplies made through crowdfunding
- Unable to provide ruling due to lack of specific facts at this time
Source: taxinterpretations.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.
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