Canada: GST information returns due 30 June | KPMG | GLOBAL

Canada: GST information returns of financial institutions due 30 June

Canada: GST information returns due 30 June

Financial institutions and business that are deemed to be financial institutions under the goods and services tax / harmonized sales tax (GST/HST) and Quebec sales tax (QST) rules and that have a 31 December year-end must file annual information returns by 30 June 2017.

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While the GST/HST and QST annual information returns are not related to any GST/HST and QST payments, financial institutions and those qualifying businesses could face penalties if they do not correctly and timely file this information return. Taxpayers need to file the correct form for the annual information return—the form can vary based on the type of entity and whether the entity is administered by the Canada Revenue Agency or Revenue Quebec for GST/HST and QST purposes.

 

Read a May 2017 report [PDF 70 KB] prepared by the KPMG member firm in Canada: GST Information Returns — File by June 30

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