General Informatiion Concerning the QST and the GST/HST - Ryan

Election to use the Quick Method
To choose the Quick Method, you must complete form FP-2074-V, Election Respecting the Quick
Method of Accounting for Small Businesses.
If you have a monthly or quarterly filing frequency, you must file the form with Revenu Québec no
later than the deadline for filing your return for the period in which you want to use the method.
For example, if you wish to start using the method for the reporting period from January 1 to
March 31, 2009, you must file the form no later than April 30, 2009.
If you have an annual filing frequency, you must file the form with Revenu Québec no later than the
first day of the second quarter of the fiscal year in which you want to use the method. For example,
if you wish to use the method for the fiscal year from January 1 to December 31, 2009, you must file
the form no later than April 1, 2009.
Revenu Québec will confirm your election in writing. The effective date you indicate on the form is
the date on which you may begin using the Quick Method; however, the date must correspond to
the first day of your GST and QST reporting period.
Once you have made the election, you must use the Quick Method for at least one year, provided
your business continues to meet the requirements listed in the section entitled “Who may use the
Quick Method?” on page 34.
The election to use the Quick Method does not have to be made each year. It remains in effect as
long as
y your total annual taxable sales do not exceed the maximum allowed for use of the method; and
y the rate you are entitled to use remains the same.
The election ceases to be in effect as soon as you revoke it. The election to use the Quick Method
applies to all of your branches and divisions, regardless of whether they file separate GST and QST
returns.
37
The Quick Method for calculating GST and QST remittances