Tax Rate for Insurance Premiums

The tax rate for insurance premiums is 9%, except in the case of car insurance premiums where it is 5%.

Note that the 9% rate applies to insurance premiums paid to the Société de l'assurance automobile du Québec.

Where the premium is paid by instalments, the tax shall be calculated and paid pro rata to the total premium paid.

Note

Neither the GST nor the QST apply to taxable insurance premiums subject to the tax on insurance premiums.