Get Rc7066

This guide provides clear and comprehensive instructions for completing the Rc7066 form online, specifically designed for charities to calculate their net tax under GST/HST regulations. Whether you are familiar with tax forms or new to the process, this guide will assist you step by step.

Follow the steps to complete the Rc7066 form online:

1. Press the ‘Get Form’ button to access the Rc7066 form and open it in the editor. This initiates the process of filling out the form online.
2. Begin by providing your charity’s name and GST/HST registration number in the designated fields. Ensure the information is accurate as this is crucial for identification purposes.
3. Enter the reporting period for which you are completing the form. This should reflect the timeframe corresponding to your charity’s financial activities.
4. Calculate and input the total GST/HST collected during the reporting period. This figure should include GST/HST collected on your charity’s taxable supplies.
5. Determine the total input tax credits (ITCs) that your charity qualifies to claim. Input this value in the corresponding field; note that for many charities using the net tax calculation method, this value may frequently be zero.
6. Now, subtract the total ITCs from the total GST/HST collected to calculate your charity's net tax amount. Input this result in the designated line.
7. If applicable, claim any public service bodies' rebate by completing the relevant fields based on your eligible expenses.
8. Finally, review all entered information for accuracy. Once confirmed, you can save changes, download, print, or share the completed form as necessary.

Complete your Rc7066 form online today to ensure your charity’s compliance and financial reporting.