The Canada Revenue Agency has recently revised this guide to reflect the GST/HST rate reduction to 5% and 13% respectively, which was effective January 1, 2008. The overview section of the guide now includes a reference to regulations and other publications that set out the rules to determine whether a corporation is a prescribed financial institution. In addition, the guide now makes reference to the sections and line numbers in the new format of form GST494, “GST/HST Final Return for Selected Financial Institutions”.
CRA RC4050
CRA Guide RC4050, “GST/HST Information for Selected Financial Institutions”
Tax Development Jun 18, 2009