News and Insights

CRA Issues Notice on Changes to Pension Plans for Master Trusts

Tax Development May 01, 2017

The CRA has issued GST/HST Notice 304, “GST/HST Pension Plan Rules for Master Trusts”, in relation to the proposed changes to the pension plan rules for master trusts introduced on July 22, 2016 by the Department of Finance.  Generally, pension entities are able to claim a rebate on tax paid for certain management and administration expenses of the pension plan.  Under the current legislation, master trusts are not considered to be pension entities and are not able to claim a rebate.  The proposed changes would include a definition for a “master pension entity” and other changes to the current provisions which would allow master trusts to claim a rebate.

Additional information on these proposed changes can be found in the following link: