TCC: THE CRA CAN HAVE ITS CAKE AND EAT IT TOO!
TCC CONFIRMS THE CRA CAN TAX HOUSE FLIPS WHILE DENYING OFFSETTING ITCs
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When auditing many isolated residential real estate developments, the Canada Revenue Agency ("CRA") often insists on having its cake and eating it too: it assesses GST on the full selling price of a newly constructed home but denies the vendor every single Input Tax Credit ("ITC") on their selling costs.