Form RC4605 Total Tax Recovery Rate Election or Revocation for a Selected Listed Financial Institution - Canada

Form RC4605 Total Tax Recovery Rate Election or Revocation for a Selected Listed Financial Institution in Canada is used by financial institutions to elect or revoke the election for the total tax recovery rate (TTR) method. The TTR method is used to calculate certain tax liabilities for financial institutions, such as those related to the Canadian non-resident withholding tax.

The Form RC4605 Total Tax Recovery Rate Election or Revocation for a Selected Listed Financial Institution in Canada is filed by the selected listed financial institution itself.

FAQ

Q: What is Form RC4605?
A: Form RC4605 is a form used by listed financial institutions in Canada to elect or revoke the Total Tax Recovery Rate.

Q: What is the Total Tax Recovery Rate?
A: The Total Tax Recovery Rate is a rate at which a financial institution can recover a portion of withheld taxes.

Q: Who can use Form RC4605?
A: Form RC4605 can be used by listed financial institutions in Canada.

Q: What can be done using Form RC4605?
A: Form RC4605 can be used to elect or revoke the Total Tax Recovery Rate.

Q: What is the purpose of electing the Total Tax Recovery Rate?
A: Electing the Total Tax Recovery Rate allows a financial institution to recover a portion of withheld taxes.

Q: Can the Total Tax Recovery Rate be revoked?
A: Yes, the Total Tax Recovery Rate can be revoked using Form RC4605.

Q: Is Form RC4605 specific to Canada?
A: Yes, Form RC4605 is specific to listed financial institutions in Canada.