Prescription drugs, wheelchairs, and basic groceries are all examples of zero rated supplies.

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An Ontario resident (13% HST) is a freelance writer of a PEI newspaper (15% HST). The writer would bill the newspaper company HST at a 14% rate since this is the average sales tax rate for the two provinces.

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In Canada, our Value Added Tax (VAT) system is assessed on gross sales. The taxpayer is then provided with a credit based on purchases made. No accounting based determination of income is required.

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An Allowable Business Investment Loss is 50% of a Business Investment Loss.

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Division B income minus division C deductions equals net income.

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An antique bookshelf can be considered listed personal property.

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A coin can be considered listed personal property.

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