*** Transcriber's Note: Please set your voice synthesizer to read most punctuation. When you encounter the symbol, please enter the applicable information, if necessary. *** GST27 E (Front) Canada Customs and Revenue Agency ELECTION OR REVOCATION OF AN ELECTION TO DEEM CERTAIN SUPPLIES TO BE FINANCIAL SERVICES (Form GST27) Use this form if your corporation is a member of a closely related group, of which at least one member is a listed financial institution, and you want to jointly elect or revoke an election with another member of the closely related group to have certain taxable supplies treated as supplies of financial services. While this election is in effect, each electing member is considered to be a listed financial institution. It is not required that the listed financial institution be one of the members filing this election. You also have to complete parts B and C on the back of this form. If more than four corporations elect or revoke the election, use a photocopy of this form or additional forms to provide the information requested in Part A. Part A - Identification of corporations making or revoking the election Legal name ^ Business number ^ Trading name (if different from legal name) ^ Mailing address ^ City ^ Province ^ Postal code ^ Contact person ^ Title ^ Telephone number (including area code) ^ I, ^ certify that the information given on this form and in any attached document(s) is, to the best of my knowledge, true, correct, and complete in every respect. I am authorized to sign on behalf of the corporation identified above. Signature of the authorized person ^ Title or office ^ (Year/Month/Day) ^ Part A - Identification of corporations making or revoking the election Legal name ^ Business number ^ Trading name (if different from legal name) ^ Mailing address ^ City ^ Province ^ Postal code ^ Contact person ^ Title ^ Telephone number (including area code) ^ I, ^ certify that the information given on this form and in any attached document(s) is, to the best of my knowledge, true, correct, and complete in every respect. I am authorized to sign on behalf of the corporation identified above. Signature of the authorized person ^ Title or office ^ (Year/Month/Day) ^ Part A - Identification of corporations making or revoking the election Legal name ^ Business number ^ Trading name (if different from legal name) ^ Mailing address ^ City ^ Province ^ Postal code ^ Contact person ^ Title ^ Telephone number (including area code) ^ I, ^ certify that the information given on this form and in any attached document(s) is, to the best of my knowledge, true, correct, and complete in every respect. I am authorized to sign on behalf of the corporation identified above. Signature of the authorized person ^ Title or office ^ (Year/Month/Day) ^ Privacy Act Personal Information Bank number RND/P-PU-080. GST27 E (Back) Part A - Identification of corporations making or revoking the election Legal name ^ Business number ^ Trading name (if different from legal name) ^ Mailing address ^ City ^ Province ^ Postal code ^ Contact person ^ Title ^ Telephone number (including area code) ^ I, ^ certify that the information given on this form and in any attached document(s) is, to the best of my knowledge, true, correct, and complete in every respect. I am authorized to sign on behalf of the corporation identified above. Signature of the authorized person ^ Title or office ^ (Year/Month/Day) ^ Part B - Eligibility Are the corporations making the election members of the same closely related group, as defined in sections 123 and 128 of the Excise Tax Act? Yes or No ^ Is a listed financial institution a member of the closely related group? Yes or No ^ Name of the listed financial institution that is a member of the closely related group ^ Business number ^ If you answered yes to both questions, the corporations identified in Part A (and on the attached list, if applicable) can elect to have taxable supplies of services and taxable supplies of property by way of lease, licence, or similar arrangement deemed to be supplies of financial services. Definitions: "Closely related group" means a group of corporations each member of which is closely related to each other member of the group, within the meaning assigned by section 128 of the Excise Tax Act. "Listed financial institution" means a financial institution as defined in paragraph 149(1)(a) of the Excise Tax Act. Part C - Election or revocation of the election The corporations identified on Part A of this form or on any attached form jointly make or revoke an election to have supplies of services and supplies of property by way of lease, licence, or similar arrangement treated as supplies of financial services pursuant to section 150 of the Excise Tax Act. Check the appropriate box to indicate whether you are using this form for an election or to revoke an election Election or Revocation ^ Effective date of the election or revocation (you can revoke an election only after it has been in effect for at least 365 days). (Year/Month/Day) ^ Information concerning the election or revocation of an election General Information Use this form if your corporation is a member of a closely related group, of which at least one member is a listed financial institution, and you want to elect or revoke an election to have certain supplies made between members of the group treated as financial services. Where this election is jointly made by two or more members of a closely related group, supplies of services and supplies of property by way of lease, licence, or similar arrangement are considered supplies of financial services. This means they are considered exempt from the goods and services tax/harmonized sales tax (GST/HST). All other supplies retain their tax status regardless of the election. This election does not apply to the following supplies: - imported taxable supplies as defined in section 217 of the Excise Tax Act, and - property held or services rendered by a member as a participant in a joint venture with another person where the two persons have elected under section 273 of the Excise Tax Act. If the election or revocation of the election is made with more than four members, you may attach a photocopy of this form or another Form GST27 to provide the information requested in Part A. This form is available on the Internet at: www.ccra-adrc.gc.ca Filing the election or the revocation Election - The election must be filed on or before the due date of your GST/HST return for the reporting period which includes the effective date of the election. Revoking the election - The election may be revoked if it has been in effect for at least 365 days. The revocation is effective on the day specified in Part C of this form. Without a notice of revocation, an election ceases to be effective on the earliest of: - the day an electing member ceases to be a member of the closely related group; or - the first day the closely related group does not include a listed financial institution. Note: When the election is in effect, each electing member is considered to be a listed financial institution. However, if a member is considered a listed financial institution only by virtue of the election, it will not be considered to be a listed financial institution for the purpose of determining when an election is no longer in effect. Where an election made jointly by two members ceases to be effective, the members cannot make another election without the written authorization of the Minister. Send the completed form (with attachments, if applicable) to your tax services office.