• GST-60 - GST/HST Return For Acquisiton of Real Property

Who should complete this return?

Use this return to report and pay the GST/HST if you are in either of the following situations:

• You are registered for the GST/HST and are required to report and pay GST/HST as the recipient of a taxable supply by way of sale of real property (for example, land or a building) that you acquired for use or supply 50% or less in your commercial activities.
• You are not registered for the GST/HST and are required to report and pay GST/HST as the recipient of a taxable supply by way of sale of real property (for example, land or a building) acquired 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.

Exceptions

Do not use this return if you acquired taxable real property 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 in your commercial activities will be more than 50%. Instead, use your regular return, for example Form GST34-2, Goods and Services Tax/Harmonized Sales Tax Return for Registrants, to report and pay the GST/HST.
• You are an individual who acquired a residential complex, such as a house, or a cemetery plot or similar site, and the vendor is resident in Canada. You have to pay the GST/HST to the vendor.
• You are not registered for the GST/HST and the vendor is resident in Canada.You have to pay the GST/HST to the vendor.

Completing your return

Part 1

Complete all boxes in Part 1 of your return. Part 1 is your working copy. Make sure to keep it and any information you used to prepare your return, in case we ask to see them.

What is the acquisition date of the real property?

You have to enter the acquisition date of the real property on your return. This date will determine the due date for your return and payment. For purposes of your return, the acquisition date of the real property is the earlier of:

• the day ownership is transferred to you; and
• the day possession is transferred to you under the purchase and sale agreement.

Exception for certain residential condominium units

If you purchased a residential condominium unit and possession of the unit is transferred to you under the purchase and sale agreement before the condominium complex is registered as a condominium, the acquisition date is the earlier of:

• the day ownership is transferred to you; and
• the day that is 60 days after the day the complex is registered as a condominium.

Due date

Your return and payment are due on or before the last day of the month after the calendar month that includes the acquisition date.

For example, if the acquisition date of the real property is June 8, 2014, the due date for your return and payment is July 31, 2014.

Penalty and interest will apply if we do not receive your return and payment by the due date.

Completing line 205 – Which rate of tax applies?

If the real property is situated in:

• New Brunswick, Newfoundland and Labrador, or Ontario, tax applies at the HST rate of 13%.
• Nova Scotia, tax applies at the HST rate of 15%.
• Prince Edward Island, tax applies at the HST rate of 14%.
• the rest of Canada, tax applies at the GST rate of 5%.

Completing your return

Part 2

Enter your business number (if applicable), the acquisition date of the real property, and information from lines 201, 205, and 215 in Part 1 into the corresponding boxes in Part 2 (at the bottom of page 1).

Make sure to sign Part 2 and complete the identification area at the bottom of page 2.

If you pay by cheque, write your business number, if applicable, on 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 payable is $2 or less. We will charge a fee for any dishonoured payment.

Definition

Participating province – means a province that has harmonized its provincial sales tax with the GST to implement the HST. Participating provinces include New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, and Prince Edward Island, but do not include the Nova Scotia offshore area or the Newfoundland offshore area except to the extent that offshore activities, as defined in subsection 123(1) of the Excise Tax Act are carried on in that area.

Where do you send your return?

Send Part 2 of your return with your payment to your tax centre. To determine your tax centre, see page 4. You cannot file your return at your financial institution.

What if you need help?

For more information, go to cra.gc.ca/gsthst, or call 1-800-959-5525.

To get our forms and publications, go to cra.gc.ca/gsthstpub.