{"id":662,"date":"2013-10-04T10:49:45","date_gmt":"2013-10-04T14:49:45","guid":{"rendered":"http:\/\/carleton.ca\/facts\/?page_id=662"},"modified":"2025-04-17T13:06:59","modified_gmt":"2025-04-17T17:06:59","slug":"input-tax-credit","status":"publish","type":"page","link":"https:\/\/carleton.ca\/facts\/glossary\/i\/input-tax-credit\/","title":{"rendered":"Input Tax Credit"},"content":{"rendered":"<h3>What is it?<\/h3>\n<p>An Input Tax Credit (ITC) is an allowable deduction against the taxes payable for commercial activities.\u00a0 The ITC is equal to 100% of the taxes paid on any material\/supplies used in creating the final product or service.<\/p>\n<h3><b>Why is it important?<\/b><\/h3>\n<p>It is important to isolate commercial activity so that the value of the full ITC is realized.\u00a0\u00a0 This ensures the department is not paying more taxes than they are required.<\/p>\n<h3><b>Where do I find more information?<\/b><\/h3>\n<ul>\n<li>Visit <a href=\"https:\/\/carleton.ca\/financialservices\/research-financial-services\/\">Research Financial Service&#8217;s website<\/a> or contact <a href=\"&#x6d;&#97;i&#x6c;&#x74;&#111;:&#x52;&#x65;&#115;e&#x61;&#114;c&#x68;&#x46;&#105;n&#x61;&#x6e;&#99;e&#x40;&#99;&#97;&#x72;&#x6c;&#101;t&#x6f;&#x6e;&#46;c&#x61;\">Research Financial Services<\/a> for further information on how to open a\n<ul>\n<li>conference,<\/li>\n<li>workshop,<\/li>\n<li>non-credit course or<\/li>\n<li>entrepreneurial FUND,<\/li>\n<\/ul>\n<\/li>\n<li>For further information on Harmonized Sales Tax, visit <a href=\"http:\/\/www5.carleton.ca\/financialservices\/hst\/\" target=\"_blank\" rel=\"noopener noreferrer\">Financial Services HST<\/a>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What is it? An Input Tax Credit (ITC) is an allowable deduction against the taxes payable for commercial activities.\u00a0 The ITC is equal to 100% of the taxes paid on any material\/supplies used in creating the final product or service. Why is it important? It is important to isolate commercial activity so that the value [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":68,"menu_order":101,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Input Tax Credit - Financial Administration Community Training &amp; Solutions<\/title>\n<meta name=\"description\" content=\"What is it? 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