How to Process Rebates From Home in Canada
Rebates are monetary incentives offered by commercial businesses and governments when consumers purchase a product. For example, an electronics retailer might offer a rebate on a laptop computer purchase as an incentive to the buyer. The Canadian government occasionally offers rebates in the form of tax credits that people can claim on their annual tax return. The most important thing to keep in mind when it comes to rebates is that it is entirely up to the consumer to follow through and process their rebate in order to reap the financial benefit.
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Instructions
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Important Documents
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Keep all documentation related to the required purchase such as receipts, invoices and packaging. Companies usually stipulate that you show proofs of purchase such as a receipt and UPC code in order to redeem a rebate. Commercial rebates do not apply to the Canadian goods and services tax or harmonized sales tax (GST/HST) that you paid on your required purchase.
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Keep track of the time frame in which the rebate is eligible as most rebates have expiration dates. If it is a mail-in-rebate, give yourself an extra couple of days before the deadline to ensure that your rebate arrives in time to be processed.
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Declare your purchase on your annual tax return if your rebate is a Canadian tax credit. You may not need to send documentation of your purchase along with your tax return, but keep it on file as it may be requested at a later date.
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References
- Photo Credit Calculating the receipts image by painless from Fotolia.com
