Distinction between GST34/GST62 interim returns
Instructions for filing out your interim return (GST34/GST62)
Form GST34-2 and GST34-3 are not available on our website. We only provide them in a pre-printed format. …
If you do not receive a personalized return, you can use Form GST62 … . Form GST62 contains all of the same information as Form GST34-2, except you have to enter your personal data.
If you are not registered for the GST/HST, you are considered to be a monthly filer. As a monthly filer you have to file Form GST62 as an interim return for each calendar month.
Calculation of interim tax adjustment based on provincial attribution percentage for previous year (now under SLFI Reg. 48(8)-(10)) (p. 13)
Calculation of your interim net tax adjustment
Generally, your interim net tax is the amount that would be your net tax for your reporting period if the provincial attribution percentage for a particular participating province is your provincial attribution percentage for the participating province for the tax year or for the immediately preceding tax year determined in accordance with the SLFI Regulations, whichever is less (see Element C of the SAM formula). …
Use of GST494 (now, also, RC7294) to calculate interim net tax adjustment (p.14)
Reporting your interim net tax adjustment
For each of your reporting periods:
- Calculate your interim net tax adjustment as discussed in the previous section. The result is either a positive or a negative amount.
- If the result is a positive amount, include this amount with any other of your adjustments that you make on line 104 – “Adjustments increasing net tax” of the paper GST34-2 return (or include the amount in your line 105 calculation if you are filing electronically).
- If the result is a negative amount, you can include this amount along with any other adjustment amounts that you make on line 107 – “Adjustments decreasing net tax” of the paper GST34-2 return (or include the amount in your line 108 calculation if you are filing electronically).