On June 1, 2017, Saskatchewan Finance released updates to the following Information Bulletins:
These bulletins were revised to advise taxpayers that any collision damage waiver fees, personal accident insurance fees, liability insurance fees, and equipment warranty insurance contracts will be subject to Saskatchewan PST, effective August 1, 2017.
In addition, the bulletins note that collision damage waiver fees, personal accident insurance fees, and liability insurance fees on rentals and leases are subject to PST prior to August 1, 2017, if such fees are not optional and are required in order to rent or lease a vehicle or some equipment.
These changes reflect Saskatchewan’s new rules concerning the taxation of insurance premiums as of August 1, 2017. Further information about these changes, announced in this year’s Saskatchewan budget, can be found in PST Information Bulletin for Insurance Vendors.