Proposed Public Service Bodies’ Rebate for Municipalities in Newfoundland and Labrador
Tax Development Dec 14, 2015
Tax Development Dec 14, 2015
The Government of Newfoundland and Labrador has publically confirmed its plans to provide municipalities, Inuit community governments and local service districts with a 25% rebate of the provincial component of the HST paid or payable on eligible costs as of January 1, 2016. Furthermore, this rebate is slated to increase to 57.14%, effective January 1, 2017.
The Canada Revenue Agency has issued GST/HST Notice No. 292, “Proposed Public Service Bodies’ Rebate for Municipalities in Newfoundland and Labrador – Questions and Answers", to address both the new public service bodies’ rebate and the special quick method of accounting for these organizations. More information on this change is also available in Newfoundland and Labrador’s Department of Finance Tax Information Bulletin No. HST 001.