- GST/HST ruling and interpretation on application of tax on funds raised through crowdfunding
- HST rates in participating provinces: 13% in Ontario, 15% in New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island
- GST rate in rest of Canada: 5%
- Facts include creation of goods, fundraising through crowdfunding platform, rewards for supporters, and responsibilities of parties involved
- Projects on platform are reward-based, with supporters pledging funds in exchange for rewards
- Platform fees and payment processing information provided
- Contracts formed between creators and supporters through platform
- Information on successful projects and pledges obtained
- Description of goods offered as rewards for projects
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.
