Under proposed legislation, financial institutions, within the meaning of subsection 149(1) of the Excise Tax Act,have to complete Form GST111, Schedule 1 – Financial Institution GST/HST Annual Information Schedule. A financial institution must file this schedule where they are a registrant; and their total annual revenue is more than $1 million. The Canada Revenue Agency has released guide to assist financial institutions in completing this annual information schedule.
Financial Institution GST/HST Annual Information Schedule