This version of the form is not currently in use and is provided for reference only. Download this version of Form RC7227 for the current year.
Form RC7227 Elections or Revocation of the Elections to Deem Certain Supplies to Be Financial Services for GST/HST and QST Purposes for Selected Listed Financial Institutions in Canada is used for making or revoking elections to treat certain supplies as financial services for GST/HST and QST purposes for selected listed financial institutions.
The specified form, RC7227, is filed by selected listed financial institutions in Canada for elections or revocation of elections to consider certain supplies as financial services for GST/HST and QST purposes.
Q: What is the Form RC7227?
A: Form RC7227 is used to declare or revoke the election to treat certain supplies as financial services for GST/HST and QST purposes for selected listed financial institutions in Canada.
Q: What is the purpose of Form RC7227?
A: The purpose of Form RC7227 is to declare or revoke the election made by selected listed financial institutions to deem certain supplies as financial services for the purposes of GST/HST and QST.
Q: Who needs to use Form RC7227?
A: Selected listed financial institutions in Canada need to use Form RC7227 to declare or revoke the election to treat certain supplies as financial services for GST/HST and QST purposes.
Q: How can Form RC7227 be used?
A: Form RC7227 can be used to make an initial election, revoke a previous election, or make a new election after revoking a previous election.