GST/HST and QST Return for Purchase of Real

Property/Immovable or Carbon Emission Allowances

by a Selected Listed Financial Institution Protected B when completed
Administered by the Canada Revenue Agency.
Part 1 Working copy
Use this return to report and pay the goods and services tax/harmonized sales tax (GST/HST) and/or the Quebec sales tax (QST) when you purchase taxable
real property (referred to as an immovable for QST purposes) or you purchase taxable supplies of emission allowances (see page 3 for definition) that are
made in Canada, if you are either a selected listed financial institution (SLFI) for QST purposes, or an SLFI for GST/HST purposes that has QST reporting
requirements, and you are in any of the following situations:
• You are registered for the GST/HST and the use or supply of the real property or emission allowances in your commercial activities will be 50% or less.
• You are registered for the QST and the use or supply of the immovable or emission allowances in your commercial activities will be 50% or less.
• You are not registered for the GST/HST and you purchased the real property from a person who is not resident in Canada, or from a person who is
considered to be resident only for activities carried on through the person's permanent establishment in Canada.
• You are not registered for the QST and you purchased the immovable from a person who is not resident in Quebec, or from a person who is considered
to be resident only for activities carried on through the person's permanent establishment in Quebec.
• You are not registered for the GST/HST and you purchased taxable supplies of emission allowances that are made in Canada.
• You are not registered for the QST and you purchased taxable supplies of emission allowances that are made in Quebec.
For more information on the exceptions and special rules, or to find out which form you should use, see "General information" on page 2.

Name Business number (if applicable)

R T
Address and description of the real property, including the proper name(s) of any building(s) situated on the property (if applicable)

City Province or territory Postal code

Real property vendor's name Real property vendor's address (Unit Nº – Street Nº, Street name, PO Box, RR)

City Province or territory Postal code

Purchase date of the real property/immovable

Year Month Day Due date of this return (For more Year Month Day
or emission allowances (For more information,
information, see page 3.)
see page 3.)

Tax calculation
Enter the total purchase price of the real property/immovable or emission allowances on which you are calculating
201
the tax. Do not include the GST/HST or QST.
Enter the total amount of the GST/HST due on the purchase of the real property or purchases of emission allowances.
205
Do not fill out line 205 until you have read "Filling out line 205 – Which rate of tax applies?" on page 3.
Enter the total amount of the QST due on the purchase of the immovable or purchases of emission allowances.
305
(For more information, see page 3.)

Enter the amount of the payment you are sending with your return. 215
(Ce formulaire est disponible en français.)
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RC7260 E (20) Detach and return lower part (Part 2) Page 1 of 3

GST/HST and QST Return for Purchase of Real

Property/Immovable or Carbon Emission Allowances by a
Part 2 Selected Listed Financial Institution
Fill out this section and the identification section on page 2.
Protected B when completed
Business number (if applicable)
RC7260 E (20)
R T

Purchase date of the real property/immovable Year Month Day 20 5

or emission allowances: Total purchase price 201
Year Month Day GST/HST due 205
Internal use only
QST due 305

Payment enclosed 215

I certify that the information given on this return is correct and complete, and that I am the person required to file this return, or that I am authorized to sign this
return on behalf of that person. It is a serious offence to make a false return.
Name (print) Signature Year Month Day
 General information
Who should fill out this return? Exceptions
Use this return to report and pay the GST/HST and/or the QST when you Do not use this return if you purchased either taxable real
purchase taxable real property/immovable (for example, land or a building) or property/immovable or emission allowances and you are in any of
you purchase taxable supplies of emission allowances that are made in the following situations:
Canada, if you are either an SLFI for QST purposes, or an SLFI for GST/HST • You are registered for the GST/HST and the QST and the use or
purposes that has QST reporting requirements, and you are in any of the supply of the real property/immovable or emission allowances in your
following situations: commercial activities will be more than 50%. Instead, use your regular
• You are registered for the GST/HST and the use or supply of the real return, for example Form RC7200, Goods and Services Tax/
property or emission allowances in your commercial activities will be 50% Harmonized Sales Tax (GST/HST) and Quebec Sales Tax (QST)
or less. Return for Selected Listed Financial Institutions or Form RC7294,
• You are registered for the QST and the use or supply of the immovable Goods and Services Tax/Harmonized Sales Tax (GST/HST) and
or emission allowances in your commercial activities will be 50% or less. Quebec Sales Tax (QST) Final Return for Selected Listed Financial
Institutions, to report and pay the GST/HST and the QST.
• You are not registered for the GST/HST and you purchased the real
property from a person who is not resident in Canada, or from a person • You are an individual who purchased a residential complex, such as a
who is considered to be resident only for activities carried on through house, or a cemetery plot or similar site, and the vendor is resident
the person's permanent establishment in Canada. in Canada. You have to pay the GST/HST to the vendor.
• You are not registered for the QST and you purchased the immovable • You are an individual who purchased a residential complex, such as a
from a person who is not resident in Quebec, or from a person who is house, or a cemetery plot or similar site, and the vendor is resident
considered to be resident only for activities carried on through the person's in Quebec. You have to pay the QST to the vendor.
permanent establishment in Quebec. • You are not registered for the GST/HST and the vendor of the real
• You are not registered for the GST/HST and you purchased taxable property is resident in Canada. You have to pay the GST/HST to the
supplies of emission allowances that are made in Canada. vendor.
• You are not registered for the QST and you purchased taxable supplies • You are not registered for the QST and the vendor of the immovable
of emission allowances that are made in Quebec. is resident in Quebec. You have to pay the QST to the vendor.
For purchases of emission allowances, fill out one return for all the GST/HST • You purchased a taxable supply of emission allowances that was made
and/or all the QST that you have to report and pay on all your purchases of outside Canada. This does not affect the requirement to use Form GST59
emission allowances that are made in the same calendar month. For or your regular return to self-assess GST/HST and QST in respect of
purposes of reporting the purchase date of the emission allowances in your imported taxable supplies of emission allowances made outside Canada.
return, enter the date of your first purchase of an emission allowance that is For more information, see Guide RC4022, General Information for GST/
made in the calendar month. HST Registrants.

When not to use this return Filling out your return

If you are not an SLFI for GST/HST or QST purposes or both and you have Part 1
QST reporting requirements, file your return with Revenu Québec using Fill out all boxes in Part 1 of your return as applicable. Part 1 is your working
Form FP-505.D.A-V, GST/HST – QST Return Respecting the Purchase of copy. Make sure to keep it and any information you used to prepare your
Taxable Immovables or Taxable Carbon Emission Allowances. For more return, in case we ask to see them.
information, go to revenuquebec.ca, or call 1-800-567-4692.
If you are an SLFI for GST/HST purposes only and you do not have any QST
to report and pay, use Form GST60, GST/HST Return for Purchase of Real
Property or Carbon Emission Allowances, to report and pay the GST/HST.

Page 2 of 3
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Detach and return lower part (Part 2)

Identification Filing instructions

FIll out this section. Send this part with your payment to the Prince Edward Island
Tax Centre (see page 3).
Full legal name
You cannot file this return at your financial institution.
If you pay by cheque, write your business number (if applicable) on
Trading name (if different from full legal name) your cheque and make it payable to the Receiver General. Make
your payment in Canadian funds. You do not have to make a
payment if the tax is $2 or less.
Mailing address (Unit Nº – Street Nº, Street name, PO Box, RR)
We will charge a fee for any dishonoured payment.
Do not staple, clip, tape, or fold your voucher, cheque, or
City money order. Do not mail cash.
If your payment is $50,000 or more, you must make it at your
Province or territory Postal code financial institution in Canada with Form RC158, GST/HST
NETFILE/TELEFILE Remittance Voucher. However, you are still
required to mail your return to the Prince Edward Island Tax Centre.
Contact name Telephone number Extension

Personal information is collected for purposes of the administration or enforcement of Part IX of the Excise Tax Act, the Act respecting the Québec sales tax, the Tax Administration
Act (Quebec), and related programs and activities including administering tax, rebates, elections, audit, compliance, and collection. The information collected may be used or
disclosed for the purposes of other federal acts that provide for the imposition and collection of a tax or duty. It may also be disclosed to other federal, provincial, territorial or foreign
government institutions to the extent authorized by law. Failure to provide this information may result in interest payable, penalties or other actions. Under the Privacy Act, individuals
have the right to: access their personal information, request correction, or file a complaint to the Privacy Commissioner of Canada regarding the handling of the individual’s personal
information. Refer to Personal Information Bank CRA PPU 241 on Info Source at canada.ca/cra-info-source.
What is the purchase date of the real property/immovable or Make sure to sign Part 2 and fill out the identification area on page 2.
emission allowances?
Definitions
You have to enter the purchase date of the real property/immovable or Emission allowance – means an allowance, credit or similar instrument
emission allowances on your return. This date will determine the due date for (other than a prescribed allowance, credit or instrument) that:
your return and payment. For purposes of your return, the purchase date of
the real property/immovable is the earlier of: • is issued or created by, or on behalf of:
• the day ownership is transferred to you a) a government, a government of a foreign country, a government of a
political subdivision of a country, a supranational organization or an
• the day possession is transferred to you under the purchase and international organization (each of which is in this definition referred
sale agreement to as a "regulator")
The purchase date of the emission allowances is the date of purchase of b) a board, commission or other body established by a regulator
the emission allowances.
Exception for certain residential condominium units c) an agency of a regulator
If you purchased a residential condominium unit and possession of the unit • can be used to satisfy a requirement under:
is transferred to you under the purchase and sale agreement before the a) a scheme or arrangement implemented by, or on behalf of, a regulator
condominium complex is registered as a condominium, the purchase date to regulate greenhouse gas emissions
is the earlier of:
b) a prescribed scheme or arrangement
• the day ownership is transferred to you
• the day that is 60 days after the day the complex is registered as • represents a specific quantity of greenhouse gas emissions expressed
a condominium as carbon dioxide equivalent
Due date Emission allowance also includes a prescribed property.
Your return and payment are due on or before the last day of the month Participating province – means a province that has harmonized its
after the calendar month that includes the purchase date of the real provincial sales tax with the GST to implement the HST. Participating
property/immovable or the emission allowances. provinces include New Brunswick, Newfoundland and Labrador, Nova Scotia,
For example, if the purchase date of the real property/immovable is Ontario, and Prince Edward Island, but do not include the Nova Scotia
July 8, 2020, the due date for your return and payment is August 31, 2020. offshore area or the Newfoundland offshore area except to the extent that
offshore activities are carried on in that area.
Penalty and interest will apply if we do not receive your return and payment
by the due date. Selected listed financial institution (SLFI) – for purposes of the
GST/HST, a financial institution would generally be considered to be an SLFI
Filling out line 205 – Which rate of tax applies? throughout a reporting period in a fiscal year that ends in a tax year of the
For supplies of real property, if the real property is situated in: financial institution if it is a listed financial institution described in any of
subparagraphs 149(1)(a)(i) to (x) of the ETA at any time in the tax year,
• Ontario, tax applies at the HST rate of 13% and the financial institution meets one of the following conditions:
• New Brunswick, Newfoundland and Labrador, Nova Scotia or • it has, at any time in the tax year, a permanent establishment in a
Prince Edward Island, tax applies at the HST rate of 15% participating province and has, at any time in the tax year, a permanent
• the rest of Canada, tax applies at the GST rate of 5% establishment in any other province
Note • it is a qualifying partnership during the tax year
For GST/HST purposes, special rules apply if the real property is situated
in both a participating province and another province (or outside Canada). For purposes of the QST, a financial institution would generally be considered
For example, a purchase of real property may include land that straddles to be an SLFI throughout a reporting period in a fiscal year that ends in a tax
the border between a participating province and another province. If you are year of the financial institution if it is described in any of paragraphs 1 to 10 of
in this situation, call 1-855-666-5166. the definition of listed financial institution in section 1 of the Act respecting
the Québec sales tax (which parallel subparagraphs 149(1)(a)(i) to (x) of
For supplies of emission allowances, if the supply is made in: the ETA) at any time in the tax year, and the financial institution meets one of
• Ontario, tax applies at the HST rate of 13% the following conditions:
• New Brunswick, Newfoundland and Labrador, Nova Scotia or • it has, at any time in the tax year, a permanent establishment in Quebec
Prince Edward Island, tax applies at the HST rate of 15% and has, at any time in the tax year, a permanent establishment in any other
• the rest of Canada, tax applies at the GST rate of 5% province
Note • it is a qualifying partnership during the tax year
The GST/HST is payable in respect of a supply of an emission allowance Note
(intangible personal property), nor the applicable rate of tax. For more For purposes of the definition of selected listed financial institution, the
information on the place of supply rules, see Draft GST/HST Technical meaning of a permanent establishment is expanded for certain types of
Information Bulletin B-103, Harmonized Sales Tax – Place of supply rules listed financial institutions such that the existence of a permanent
for determining whether a supply is made in a province. establishment would generally be determined based on the location of the
financial institution's clients, operations, unit holders and/or plan members.
Filling out line 305
For more information, see GST/HST Memorandum 17.6.1, Definition
If the immovable is situated in Quebec and the purchase and sale agreement of "Selected Listed Financial Institution".
was entered into after December 31, 2012, tax applies at the QST rate
of 9.975%. Where do you send your return?
Note Send Part 2 of your return with your payment to:
For QST purposes, special rules apply if the immovable is situated Canada Revenue Agency
in both Quebec and another province. For example, a purchase Prince Edward Island Tax Centre
of an immovable may include land that straddles the border between 275 Pope Road
Quebec and another province. If you are in this situation, Summerside PE C1N 6A2
call 1-855-666-5166.
There is no effect on the imposition of the QST in respect of a supply of an What if you need help?
emission allowance (incorporeal movable property). For supplies of emission For more information, go to canada.ca/gst-hst or call 1-855-666-5166.
allowances made in Quebec, the QST rate of 9.975% applies. To get our forms and publications, go to canada.ca/gst-hst-pub.
Filling out your return
Part 2
Enter your business number (if applicable), the purchase date of the real
property/immovable or emission allowances (as applicable), and information
from lines 201, 205, 305, and 215 in Part 1 into the corresponding boxes
in Part 2.

Page 3 of 3