Manitoba Updates Information Regarding Retail Sales Tax on Insurance

Manitoba recently updated Information Bulletin No. 061, “Insurance”, which provides information on the application of retail sales tax (RST) to insurance contracts. This update adds several insurance contracts that may be purchased RST exempt as long as the new or renewal contract comes into effect after June 30, 2020, including:

• Builder’s risk insurance taken on a building under construction;
• Title insurance;
• Mortgage insurance;
• Insurance on land and buildings situated in Manitoba (e.g., property damage insurance and fire insurance); and
• Insurance on the contents in residential and commercial premises (except where all or substantially all of the contents are inventory).