This is a reminder that the phasing out of the requirement for certain large businesses to recapture the provincial portion of Ontario HST claimed as input tax credits in respect of specified property and services has started on July 1, 2015. The recapture rate, which was 100% for the first five years following the inception of Ontario’s HST on July 1, 2010, is now reduced to 75%.

Additional information is available here: GST/HST Info Sheet GI-171