Tax on Insurance Premiums — Payment

When you pay an insurance premium, you are generally required to pay a tax on it.

The rate of the tax on insurance premiums is 9%. Note that this tax also applies to premiums paid to the Société de l'assurance automobile du Québec.

Note

GST and QST do not apply to insurance premiums.

You must report and pay the tax on insurance premiums if the tax is not collected at the time of total or partial payment of a premium and you are in one of the following situations:

  • You are resident in Québec.
  • You own an establishment in Québec or are deemed to hold such an establishment under the Taxation Act.
  • Your insurance covers property located in Québec.

To report and pay the tax, you must complete the Return Respecting the Tax on Insurance Premiums (form FP-505.D.H-V).

For a list of insurance products that are not subject to the tax, see Exemptions from the Tax on Insurance Premiums.

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