File an election

The elections listed below can be filed using an online Web form. Other elections can be sent to us by uploading a completed PDF form for the election you want to file. 

Election or revocation of an election to change a GST/HST fiscal year (GST70 or RC7270)

Use this form to file an election to change your GST/HST fiscal year, or to revoke a previously filed election.

If you are an individual or a trust, you can make your fiscal year end something other than a calendar year end if you have chosen for income tax purposes to use a fiscal period that is not the same as your tax year for one or more of your businesses (or a partnership of which you are a member).

If you are not an individual or trust, you can change your GST/HST fiscal year to be either: (i) the same as your tax year for income purposes, or, (ii) December 31st.

Effective date

The effective date must be the first day of the new fiscal period. For example, if your new GST/HST fiscal year end is June 30 (06-30) and you want the election to be effective for 2018, then the effective date must be July 1, 2018.

Notification of accounting periods (GST71 or RC7271)

Use this form if your accounting periods vary in length throughout your fiscal year, or if your quarter-end and month-end dates do not end on the last day of a calendar month. Your accounting periods have to meet our guidelines for fiscal quarters and months.

Fiscal quarters

There are four fiscal quarters in each fiscal year. The first fiscal quarter in a fiscal year starts on the first day of that fiscal year, and the last fiscal quarter ends on the last day of that fiscal year. Each fiscal quarter cannot be longer than 119 days and, except for the first and last quarters of the fiscal year, each fiscal quarter cannot be shorter than 84 days.

Fiscal months

The first fiscal month in each fiscal quarter starts on the first day of the fiscal quarter, and the last fiscal month in each fiscal quarter ends on the last day of that fiscal quarter. Each fiscal month cannot be longer than 35 days and, except for the first and last month of a fiscal quarter, each fiscal month cannot be shorter than 28 days.

Election and revocation of an election to use the quick method of accounting (GST74)

Use this form to start or stop using the quick method of accounting.

Electing to use the quick method

When electing to use the quick method of accounting, the effective date has to be the first day of a GST/HST reporting period. If you had previously elected to use the quick method and had revoked that election, you have to wait at least one year from the date the revocation became effective before you can elect to use the quick method again.

When and how can you revoke the election?

You can revoke the election only after your quick method election has been in effect for at least one year. Generally, you have to revoke the election by the due date of the GST/HST return for the last reporting period in which you wish to use the quick method.

For more information, see Guide RC4058, Quick Method of Accounting for GST/HST.

Election for GST/HST reporting period (GST20 or RC7220)

Use this form to change your GST/HST reporting periods. Reporting period options are annual, quarterly, or monthly, and are based on your threshold amount.

Charities may use any of the reporting period options, regardless of their taxable supplies.

Threshold amount

You will need the following information to determine your threshold amount:

• Total taxable sales and revenue for your immediately preceding fiscal year. Do not include amounts collected as GST/HST or provincial sales tax.
• The total of your taxable sales and revenue that was derived from:
  • goodwill;
  • financial services;
  • sales of capital real property;
  • zero-rated exports; and
  • supplies made outside Canada.

Threshold amount = ((Total taxable sales and revenue - Total taxable sales and revenue derived from the items listed above) / Total number of days in the fiscal year) x 365

If you have divisions or associates, complete the above calculation for each division or associate. The total threshold amount equals the sum of all the threshold amounts for each associate, as well as the threshold amount for the account filing the election.

Effective date

The effective date must be the first day of your fiscal year.

Your election will not be accepted if you have already filed GST/HST returns for the fiscal period. For example, if you file your election on March 1, 2021 with an effective date of January 1, 2021, and you have already filed your January 2021 GST/HST return, we will not accept your election.

Due date for filing your election

If you are electing to change from quarterly to annual filing, file your election no later than three months after the beginning of the fiscal year in which the election is to take effect.

If you are a new registrant, make an election to change your reporting period on or before the effective date of your GST/HST registration when the election is to take effect on that day.

In all other cases, file your election no later than two months after the day the election is to take effect.

Notice of revocation of an election for GST/HST reporting period by a listed financial institution (GST20-1 or RC7220-1)

Use this form if you are a listed financial institution and want to revoke a previous election made under section 246 or 247 of the Excise Tax Act to change the reporting period of your GST/HST return.

Effective date

The revocation effective date must be the first day of your fiscal year, and cannot be earlier than today’s date.

Election or revocation of an election for closely related corporations and/or Canadian partnerships to treat certain taxable supplies as having been made for nil consideration for GST/HST purposes (RC4616)

Corporations and Canadian partnerships that are specified members of a qualifying group can use this form to either jointly elect to treat certain taxable supplies between them as having been made for no consideration, or to jointly revoke the election.

Part A – Identification

Enter the Business Number of each specified member, and specify whether the account is a qualifying or temporary member. Also enter the reporting period of the return that includes the effective date of the election or revocation. For example, if the effective date is January 15, 2016 and the member is a monthly filer with a calendar year end, the reporting period would be January 1, 2016 to January 31, 2016.

Part B – Election or revocation of the election

To make (or revoke) the election, you have to complete parts A and B of this form and file it on or before the day which the GST/HST return for the reporting period that includes the effective date of the election is required to be filed. The election is to be filed by the earliest date that a GST/HST return is due from the specified members who intend to make the election.