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This version of the form is not currently in use and is provided for reference only. Download this version of
Form RC7245
for the current year.
Form RC7245 Waiver of the Limitation Period for Assessment of a Selected Listed Financial Institution - Canada
Form RC7245 Waiver of the Limitation Period for Assessment of a Selected Listed Financial Institution in Canada is for extending the time limit for the Canada Revenue Agency (CRA) to assess the tax liability of a selected listed financial institution beyond the usual limitation period.
The Form RC7245 Waiver of the Limitation Period for Assessment of a Selected Listed Financial Institution in Canada is filed by the selected listed financial institution itself.
FAQ
Q: What is Form RC7245?A: Form RC7245 is the Waiver of the Limitation Period for Assessment of a Selected Listed Financial Institution in Canada.
Q: What does the form waive?A: The form waives the limitation period for the assessment of a selected listed financial institution.
Q: Who can use Form RC7245?A: Form RC7245 can be used by selected listed financial institutions in Canada.
Q: Why would a financial institution use this form?A: A financial institution would use this form to waive the limitation period for assessment, allowing the Canada Revenue Agency to assess their taxes beyond the normal time limits.
Q: What is the purpose of waiving the limitation period?A: The purpose of waiving the limitation period is to give the Canada Revenue Agency more time to assess the taxes of a selected listed financial institution.
Download Form RC7245 Waiver of the Limitation Period for Assessment of a Selected Listed Financial Institution - Canada
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