Open or manage an account – Make changes
Make changes to a GST/HST account
As your business changes and grows, you may need to make changes to your GST/HST account.
Temporarily stop your business operations
Options that may be available to you
You can change certain account options to make it is easier to manage your business taxes in a way that makes sense for you. There is different eligibility criteria for each of these options.
You may want to make the following changes to your GST/HST fiscal year:
- use a calendar fiscal year
- use a non-calendar fiscal year
- change your previously chosen GST/HST fiscal year
If you qualify, you can make changes to your GST/HST fiscal year online in My Business Account or Represent a Client, or by using Form GST70, Election or Revocation of an Election to Change a GST/HST Fiscal Year.
If you are a selected listed financial institution for GST/HST or QST purposes or both and you to elect to change your fiscal year for GST/HST and QST purposes, use Form RC7270, Election or Revocation of an Election to Change a GST/HST and QST Fiscal Year for Certain Selected Listed Financial Institutions.
You have to send the Canada Revenue Agency (CRA), the GST/HST returns for each of your reporting periods. That reporting period is usually based on your annual revenue from taxable supplies of property and services made in Canada during the preceding fiscal year.
To make an election to change your reporting period, you have to see if the period is an option available to you.
This chart shows the assigned reporting periods based on your revenues and the options available.
|Annual Taxable Supplies||Assigned reporting period||Optional reporting period|
|$1,500,000 or less||Annual||Monthly or Quarterly|
|More than $1,500,000 up to $6,000,000||Quarterly||Monthly|
|More than $6,000,000||Monthly||Nil|
|Charities||Annual||Monthly or Quarterly|
|Listed Financial Institutions (except if deemed to be a listed financial institution)||Annual||Monthly or Quarterly|
Calculating your total revenue
When calculating annual taxable supplies, include:
When calculating annual taxable supplies do not include:
If you are a selected listed financial institution for GST/HST or QST purposes or both and you are a QST registrant and you want to change your reporting period, use Form RC7220, Election for GST/HST and QST Reporting Period for a Selected Listed Financial Institution.
If you are a listed financial institution, and you want to revoke a previously made election to file monthly or quarterly, use Form GST20-1, Notice of Revocation of an Election for GST/HST Reporting Period by a Listed Financial Institution.
If you are a selected listed financial institution for GST/HST or QST purposes or both and you are a QST registrant and you want to revoke a previously made election, use Form RC7220-1, Notice of Revocation of an Election for GST/HST and QST Reporting Period by a Selected Listed Financial Institution.
Some businesses use accounting periods that are different from calendar months or quarters for tax reporting purposes.
If your business wants to use accounting periods instead of calendar months or quarters to file GST/HST returns, you need to get approval from the CRA before the first day of each fiscal year to which the accounting periods relate. To do this, use our digital services at My Business Account or Represent a Client, or send Form GST71, Notification of GST/HST Accounting Periods, or a written request before the beginning of each fiscal year.
If you are a selected listed financial institution for GST/HST or QST purposes or both, and you want to notify the CRA of your business’s accounting periods, or to request approval to use fiscal months that are not within standard guidelines for GST/HST and QST purposes, use Form RC7271, Notification of GST/HST Accounting Periods for Selected Listed Financial Institutions.
Usually, your accounting periods have to meet the following guidelines:
- Each fiscal month has to be shorter than 36 days and, except for the first and the last month in a fiscal quarter, longer than 27 days. You can apply to have one fiscal month per quarter that is longer than 35 days. You can also apply to have fiscal months, other than the first or last month of the quarter, that are shorter than 28 days
- A fiscal quarter has to be shorter than 120 days and, except for the first and last fiscal quarters in the fiscal year, longer than 83 days
If you do not notify the CRA of your accounting periods, the CRA will assign calendar months and calendar quarters, and you will have to wait until your next fiscal year to have the option to choose your accounting periods.
You have to file a new notification for each fiscal year for which you want to use your accounting periods. If you do not tell the CRA your accounting periods, the CRA will revert your GST/HST return and payment due dates to calendar months or calendar quarters, as appropriate
Branches or divisions
You may want to keep track of your GST/HST accounts separately if your business has any of the following:
- more than one location
- more than one business activity (for example, gas station and pizza parlour)
- offices in different provinces
- different departments (for example, manufacturing and sales)
To qualify to file separately, your branches or divisions have to be separately identified either by their location or the nature of their activities. They must also keep separate records. The branches and divisions have to keep the same reporting periods as the parent company.
|If you are||Explanation||You need to use the following form|
Although you have to register your business as a single entity, as the head office, you can apply for, or revoke, the authorization for:
|Form GST10, Application or Revocation of the Authorization to File Separate GST/HST Returns and Rebate Applications for Branches or Divisions|
This application may be made jointly by one unincorporated organization and another unincorporated organization that is a member of the main organization.
|Form GST32, Application to Deem One Unincorporated Organization to be a Branch of Another Unincorporated Organization|
|Public service body||
If your public service body has branches or divisions, you may also apply to have each branch or division with $50,000 or less in annual taxable supplies designated as a small supplier division.
|Form GST31, Application by a Public Service Body to Have Branches or Divisions Treated as Eligible Small Supplier Divisions|
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