News and Insights

CRA Guide RC4419

Tax Development Jun 28, 2011

The Canada Revenue Agency has recently revised this publication which provides guidance to registrants that are required to complete form GST 111, Financial Institution GST/HST Annual Information Return, which include listed financial institutions; selected listed financial institutions and de minimis financial institutions.  The guide now reflects the new place of supply rules along with the implementation of HST in Ontario and British Columbia, and the HST rate increase in Nova Scotia, effective July 1, 2010.

In addition, the guide and corresponding form now take into account the proposed changes to the rules relating to the methods that financial institutions follow to calculate the provincial component of the HST.  For more information, see the Ryan Tax Development for guide RC4050, GST/HST Information for Selected Financial Institutions and the proposed amendments released January 28, 2011.   

CRA RC4419