News and Insights

Saskatchewan Exempts Precious Metals of PST

Tax Development Sep 01, 2016

Saskatchewan has changed Information Bulletin PST-32, “Information on the Tax Status of Antiques, Stamps, Coins, Paper Money and Precious Metals” to exempt precious metals such as platinum, gold and silver of PST when purchased as a financial instrument, effective September 1, 2016. This change conforms to the GST/HST application to precious metals which is outlined in Canada Revenue Agency, GST/HST Memorandum 17-1, “Definition of Financial Instrument”.