Canada: Financial institutions’ annual GST/HST and QST returns due 30 June 2023

Goods and services tax (GST), harmonized sales tax (HST), and Quebec sales tax (QST) returns

Goods and services tax (GST), harmonized sales tax (HST), and Quebec sales tax (QST)

The deadline for filing annual goods and services tax (GST), harmonized sales tax (HST), and Quebec sales tax (QST) returns is 30 June 2023 for financial institutions in Canada.

This upcoming deadline for the annual GST/HST and QST information returns applies to “selected listed financial institutions,” other types of financial institutions, and entities deemed to be financial institutions under the GST/HST and QST rules with a 31 December year-end.

In addition, some financial institutions may also have to file another annual return—specifically financial institutions that qualify as selected listed financial institutions and have a 31 December year-end are also required to file the annual GST/HST and QST final return for selected listed financial institutions by 30 June 2023.

Certain other financial institutions have until 5 July 2023 to elect to renew or change their 2024 input tax credit (ITC) allocation method.

Read a May 2023 report prepared by the KPMG member firm in Canada



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