Calculation of the QST Payable on Taxable Benefits
Starting January 1, 2013, the QST rate will be raised from 9.5% to 9.975%. As a result, the factor used to calculate the amount to be included in the calculation of the net QST of a registrant granting a taxable benefit to an employee or a shareholder will be increased from 9.5/109.5 to 9.975/109.975. In the case of an operating-costs benefit related to an automobile, the rate will remain at 6%.
|Taxation year||QST rate||All types of benefits |
(including the benefit related to the standby charge for an automobile)
|Operating-costs benefit related to an automobile|