When the quick method is used, input tax credits on capital expenditures are tracked and dealt with in the same manner as when the regular method is used.

Question

Quizplus · Accepted Answer

When using the quick method, input tax credits on capital expenditures are not tracked separately and are included in the overall calculation of the quick method rate. This is different from the regular method, where input tax credits on capital expenditures are tracked separately and can be claimed over a longer period of time.

When the Quick Method Is Used, Input Tax Credits on Capital