Form GST20 Election for Gst / Hst Reporting Period - Canada

The Form GST20 Election for GST/HST Reporting Period in Canada is used to elect an annual filing period for reporting Goods and Services Tax (GST) or Harmonized Sales Tax (HST). It allows businesses to choose to file their GST/HST returns annually instead of quarterly or monthly. This form is typically for businesses with minimal GST/HST liabilities.

The Form GST20 Election for GST/HST Reporting Period in Canada is filed by the business or individual who is registered for the Goods and Services Tax/Harmonized Sales Tax (GST/HST).

FAQ

Q: What is Form GST20?A: Form GST20 is an election form for GST/HST reporting period in Canada.

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

Q: Who needs to file Form GST20?A: Businesses registered for the GST/HST in Canada may need to file Form GST20 to elect a different reporting period.

Q: What is the purpose of filing Form GST20?A: The purpose of filing Form GST20 is to elect a reporting period that is different from the default reporting period assigned by the Canada Revenue Agency (CRA).

Q: Can I change my reporting period for GST/HST?A: Yes, you can change your reporting period by filing Form GST20 and obtaining approval from the CRA.

Q: What information do I need to provide on Form GST20?A: You will need to provide your business information, the requested reporting period, and a reason for the request.

Q: Is there a deadline for filing Form GST20?A: Yes, you must file Form GST20 at least 60 days before the start of the reporting period for which you are requesting the change.