How do I know if my Ontario business is large enough to have to recapture input tax credits?

Under Ontario's now-eliminated recaptured input tax credit rule, whether a business was a "specified person" generally depended on factors like annual revenue exceeding a set threshold, or being a financial institution of a type captured by the rule — but the rule was phased out and has not applied to invoices dated on or after July 1, 2018, rather than on your industry, number of employees, or how the business is organized. A business below the applicable revenue threshold, and not a financial institution caught by the rule, generally isn't a specified person and isn't subject to recapture at all, no matter how much it spends on the affected expense categories.

Because the specific revenue threshold that defines a "specified person" is exactly the kind of figure that needs to be confirmed against current CRA guidance rather than relied on from memory or older sources, don't assume your business is above or below the line based on a rough sense of its size, calculate your actual relevant revenue against the current threshold with your accountant.

It's also worth checking this periodically rather than once, since a growing business can cross into specified-person status in a year it doesn't expect, triggering recapture obligations on expenses it wasn't previously tracking that way.