[Verse 1] When you purchase goods for business use Check that GST upon your receipt Input tax credits you can deduce But only if your records are complete Commercial activities qualify Personal expenses you deny Registration threshold you must meet Before these credits you can greet [Chorus] Claim it, track it, document well ITCs have a story to tell Ninety percent for mixed-use cars Fifty percent when meals are ours Claim it, track it, don't delay Four years and credits slip away Supporting docs must tell the tale Or CRA will make you fail [Verse 2] Capital property needs special care Depreciation over several years But if you sell or change the share Recapture rules will bring you tears Basic groceries get no relief Zero-rated brings no grief Exempt supplies will block your way No ITCs on those you pay [Chorus] Claim it, track it, document well ITCs have a story to tell Ninety percent for mixed-use cars Fifty percent when meals are ours Claim it, track it, don't delay Four years and credits slip away Supporting docs must tell the tale Or CRA will make you fail [Bridge] Bad debts can bring credits back to life Election forms will end the strife Passenger vehicles have a cap Thirty thousand bridge that gap Non-residents have different rules Quick method users different tools [Verse 3] When business use is less than ten No credits flow from your pen Reasonableness must guide your claim Aggressive stances bring you shame Monthly quarterly or yearly filed Timing matters reconciled Input tax credits earned with care Will reduce the tax you bear [Final Chorus] Claim it, track it, document well ITCs have a story to tell Ninety percent for mixed-use cars Fifty percent when meals are ours Claim it, track it, follow through CPA knowledge seeing you through Supporting docs will save the day When auditors come out to play [Outro] Input tax credits properly claimed Keep your GST balance tamed
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