Subsection 167(1) - Forms

GST44 "Election Concerning the Acquisition of a Business or Part of a Business"

Do not use this form if you are a recipient that is a selected listed financial institution (SLFI) for Quebec Sales Tax (QST) purposes. Instead use Form RC7244, Elections Concerning the Acquisition of a Business or Part of a Business by a Recipient that is a Selected Listed Financial Institution for QST Purposes. ...

A recipient who is a GST/HST registrant must send this form with their GST/HST return for the reporting period in which the acquisition was made to the address specified on the return. If you file your GST/HST return electronically, send this form to your tax centre. When the supplier and recipient are both non-registrants, you do not need to send us this form. Instead, the recipient must keep this form or a copy on file in case we ask to see it.

FP-2044-V "Election Respecting the Acquisition of a Business or Part of a Business"

This form is to be completed by both the person acquiring a business (or of a part of a business) and the supplier, where both parties wish to jointly elect to have the GST/HST and QST not apply to the supply of the business (or the part of a business). ...

Under the QST system, if the recipient is a large business and does not carry on the business (or the part of a business) acquired, the supplier and the recipient can jointly elect that the recipient not have to pay the QST. This only applies to property entitling the business to an ITR, since the restrictions relating to an ITR apply to large businesses.