On March 22, 2017, Saskatchewan announced that provincial sales tax (PST) of 6% will apply to group insurance premiums. This change will be effective July 1, 2017.
According to the Information Notice issued by the Government of Saskatchewan:
- the sales tax “…will apply to a ll insurance as defined The Saskatchewan Insurance Act…”
- guidance on the application and collection of the PST on insurance premiums is being prepared and is expected to be completed by April 30, 2017
We will continue to monitor any new information that becomes available concerning this announcement and its impact on our clients. We will provide you updates as soon as additional information becomes available.
For more information, please visit: http://www.finance.gov.sk.ca/revenue/pst/IN2017-07-PSTOnInsurancePremiums.pdf.