Form RC7297 Election or Revocation Under the Special Attribution Method for Selected Listed Financial Institutions for Gst / Hst and Qst or Only for Qst Purposes - Canada

Form RC7297 Election or Revocation Under the Special Attribution Method for Selected Listed Financial Institutions for GST/HST and QST or Only for QST Purposes is a form used in Canada for certain financial institutions to make an election or revoke their election to use the special attribution method for the calculation of GST/HST and QST. This form is specifically for institutions that are listed as selected listed financial institutions.

The Form RC7297 is filed by selected listed financial institutions for GST/HST and QST purposes in Canada.

FAQ

Q: What is form RC7297?A: Form RC7297 is used for the election or revocation under the special attribution method for selected listed financial institutions for GST/HST and QST or only for QST purposes.

Q: Who uses form RC7297?A: Selected listed financial institutions use form RC7297.

Q: What is the special attribution method?A: The special attribution method is a method used to calculate the GST/HST and QST for selected listed financial institutions.

Q: What is GST/HST?A: GST stands for Goods and Services Tax, and HST stands for Harmonized Sales Tax. They are taxes imposed on the supply of goods and services in Canada.

Q: What is QST?A: QST stands for Quebec Sales Tax, which is a tax imposed on the supply of goods and services in the province of Quebec.

Q: How does form RC7297 work?A: Form RC7297 is used to elect or revoke the special attribution method, which allows selected listed financial institutions to calculate their GST/HST and QST using a specific formula.