What happens to your previously claimed ITCs when closing a GST/HST account?

When you decide to close your GST/HST account, you will need to file all outstanding GST/HST returns and pay any amounts owing up to and including the day your business ends.

You may have to remit GST/HST on capital property used in your commercial activities, and on other property you have on hand when you close your GST/HST account.

To calculate your GST/HST owing and close your GST/HST account, you may need to know:

• Non-capital property held at the time of closing a GST/HST account

• Capital property held at the time of closing a GST/HST account

• ITC for services, rent, royalties, and similar payments at time of closing

• Filing your final GST/HST return

• How to close your GST/HST account

Forms and publications

• General Information for GST/HST Registrants guide (RC4022)
• GST/HST Memoranda Series Chapter 8-1, General Eligibility Rules