Understanding Your Premium Increase

Understanding the Increase in Your Premiums

Government of Saskatchewan applies Provincial Sales Tax (PST) to Property Insurance Premiums

In the provincial budget of March 22, 2017, the Saskatchewan Government announced that, effective July 1, 2017, Provincial Sales Tax (PST) will be applicable to insurance premiums in respect to property located in Saskatchewan.

Please be advised that because your policy has an effective date of August 1, 2017 (or after) and includes property located in Saskatchewan, Saskatchewan Provincial Sales Tax will be an additional amount due on your policy.

The Saskatchewan Ministry of Finance has indicated that it will provide further guidance in regard to how to apply this tax in due course.

In light of this, the amount of Provincial Sale Tax payable on your policy will be communicated in due course, under separate cover.

We thank you for your patience as this new tax is implemented and appreciate your business.

Management of Red River Mutual

 

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