Form GST145 Waiver of the Limitation Period for Assessment (Subsection 298(7) of the Excise Tax Act) - Canada

Form GST145, Waiver of the Limitation Period for Assessment, in Canada is used to request an extension to the time limit for the assessment of certain taxes. This form is generally used when a taxpayer wants to provide additional information or when the Canada Revenue Agency (CRA) needs more time to complete an audit or investigation. The form allows both the taxpayer and the CRA to agree on an extended limitation period for assessment.

The form GST145 Waiver of the Limitation Period for Assessment is filed by the taxpayer in Canada.

Form GST145 Waiver of the Limitation Period for Assessment (Subsection 298(7) of the Excise Tax Act) - Canada - Frequently Asked Questions (FAQ)

Q: What is Form GST145? A: Form GST145 is a document used in Canada to request a waiver of the limitation period for assessment under subsection 298(7) of the Excise Tax Act.

Q: What is the purpose of Form GST145? A: The purpose of Form GST145 is to request a waiver of the limitation period for assessment, allowing the Canada Revenue Agency (CRA) to reassess or make adjustments to a taxpayer's GST/HST return beyond the normal time limit.

Q: Who can use Form GST145? A: Form GST145 can be used by individuals or businesses in Canada who wish to request a waiver of the limitation period for assessment.

Q: What is the limitation period for assessment? A: The limitation period for assessment is the time limit within which the CRA can reassess or make adjustments to a taxpayer's GST/HST return. Normally, this period is four years from the date the return was filed.

Q: Why would someone need to request a waiver of the limitation period? A: Someone may need to request a waiver of the limitation period if they believe there are errors or omissions in their GST/HST return that need to be corrected, but the normal time limit for reassessment has expired.

Q: Are there any fees for submitting Form GST145? A: There are no fees for submitting Form GST145.

Q: What happens after I submit Form GST145? A: After submitting Form GST145, the CRA will review the request and make a decision on whether to grant or deny the waiver of the limitation period. They will notify you of their decision in writing.