An August 20, 2024, Tax Court of Canada case reviewed whether a corporation could claim ITCs of $8,874 related to the purchase of two vehicles that were used by the corporation. One vehicle was purchased by the shareholder and the other was purchased by the shareholder and his spouse. Taxpayer loses To be eligible for an ITC, the corporation must meet all of the following conditions: The Court found no evidence that the corporation acquired either vehicle; the corporation’s name was not […]