Form GST287 Election or Revocation of the Election by Public Service Bodies to Use the Special Quick Method of Accounting - Canada

Form GST287 Election or Revocation of the Election by Public Service Bodies to Use the Special Quick Method of Accounting is used by public service bodies in Canada to elect or revoke their election to use the Special Quick Method of Accounting for calculating the Goods and Services Tax (GST) they owe.

The Form GST287 Election or Revocation of the Election by Public Service Bodies to Use the Special Quick Method of Accounting - Canada is filed by public service bodies who want to use the special quick method of accounting.

FAQ

Q: What is Form GST287?A: Form GST287 is a form used by public service bodies in Canada to elect or revoke their election to use the special quick method of accounting for goods and services tax (GST).

Q: Who can use Form GST287?A: Public service bodies in Canada can use Form GST287 to elect or revoke their election to use the special quick method of accounting.

Q: What is the special quick method of accounting?A: The special quick method of accounting is a simplified way for public service bodies to calculate the amount of GST they owe or can claim as a refund.

Q: Why would a public service body use the special quick method of accounting?A: Public service bodies may choose to use the special quick method of accounting because it simplifies the calculation of GST and may result in a lower amount of GST owing.

Q: Are there any deadlines for filing Form GST287?A: Yes, there are specific deadlines for filing Form GST287. It is important to consult the latest guidelines and instructions provided by the Canada Revenue Agency (CRA) to ensure timely submission.

Q: Can I make changes to a previously filed Form GST287?A: Yes, you can make changes to a previously filed Form GST287 by submitting an amended form to the Canada Revenue Agency (CRA). It is important to follow the instructions provided by the CRA for amending the form.

Q: What happens after I file Form GST287?A: Once you file Form GST287, the Canada Revenue Agency (CRA) will review your election or revocation request and notify you of their decision. It is important to keep a copy of the form for your records.