The Government of Saskatchewan has announced starting on July 1, 2017, the provincial 6 percent sales tax (PST) will apply to insurance contracts and premiums sold in the province.
All insurance premiums that are due on or after July 1 will be subject to the new sales tax regardless of when the policy was issued.
The Ministry of Finance is formulating an Information Bulletin to aid in applying and collecting the PST on insurance premiums. This bulletin is expected to be complete by April 30, 2017.
Saskatchewan Blue Cross is seeking clarity on the new legislation and will post information and updates in the weeks ahead.