Manitoba to Exempt Property Insurance from Retail Sales Tax

The province of Manitoba recently issued Information Notice RST 20-04, “Removal of RST from Residential and Business Property Insurance” to announce that Retail Sales Tax (RST) will no longer apply to property insurance in the province.

The exemption, which will take effect on July 1, 2020, covers both residential and business properties and will apply to property insurance contracts purchased or renewed after June 30, 2020. The Information Notice provides examples of insurance policies that will qualify for this exemption.