1. Instead of the GST, a 5% First Nations Goods and
Services Tax (FNGST) applies in certain First Nations.
2. Every insurer that is a Selected Listed Financial
Institution (SLFI) must file Form GST494 "Goods and Services
Tax/Harmonized Sales Tax Return for Selected Listed Financial
Institutions" within six months of its fiscal year. Every
insurer (except a SLFI that has a fiscal-year reporting period)
must file Form GST34 "Goods and Services Tax/Harmonized Sales
Tax Return for Registrants" within either six months of its
fiscal-year reporting period or one month of its quarterly or
monthly reporting period.
3. Federal and Quebec instalments may be due one month
after each quarter.
4. British Columbia will replace its 12% HST with a 7% PST
and a 5% GST on April 1, 2013. Seepage 7for
5. For Manitoba, a 7% retail sales tax applies on various
insurance services, starting July 15, 2012. Seepage
8for more information. The filing frequency noted in
the table applies after June 30, 2012. Before July 1, 2012, the
filing frequency was as follows:
6. Nova Scotia will reduce its HST r ate from 15% to 14% by
July 1, 2014, and to 13% by July 1, 2015 (i.e., the provincial
portion of the HST will decrease from 10% to 9% and to 8%,
7. Ontario imposes a retail sales tax of 8% on other
insurance premiums, with certain exceptions, e.g., individual
lifeand health, and automobile premiums.
8. In Prince Edward Island the 10% PST rate is imposed on
GST. On April 1, 2013, a 14% HST (i.e., 9% provincial component
plus the 5% GST) will replace the combined PST/GST rate of
9. The QST rate increased from 8.5% to 9.5% on January 1,
2012. The rate is imposed on the GST-inclusive consideration. The
QST will be further harmonized with the GST on January 1, 2013,
with an effective rate of 14.975%. Seepage 10for more information. Quebec also imposes a retail sales tax
of 5% on automobile premiums and 9% on insurance premiums, with
certain exceptions, e.g., individual life and health.
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