On February 26, 2018, Saskatchewan announced that the following insurance premiums will be exempt from the 6% PST:
This exemption applies starting February 26, 2018, and is retroactive to August 1, 2017, the date insurance premiums became taxable in Saskatchewan.
PST continues to apply to other types of insurance, including farm property, equipment and vehicle insurance.
It also applies to bundled insurance if the value of the taxable and exempt components is not segregated.
Refund mechanisms for PST already collected and/or remitted have not yet been established, and will be designed in consultation with industry representatives.
Insurers and brokers that are currently collecting PST in respect of exempt premiums should: