PST Increase Q/A
May 31, 2017 —
Insurance The government of Saskatchewan are raising the PST to 6% and there extending the effective date for collecting PST on insurance premiums. The Date is August 1st, 2017.
How Much Is It?
Across all of Saskatchewan PST is now 6% instead of 5% because of our $1.2 billion deficit.
If The Renewal Date Is After August 1st, 2017 And I Come In Before Do I Still Pay PST?
Yes you will be charged the 6% PST on your insurance premium because you are still renewing after August 1st, 2017.
Will PST Impact Insurance Prices?
Yes 6% PST will now be applied to all insurance premiums instead of 0% PST as of August, 1st 2017.
Is PST Charged If I Make A Change After August 1st, 2017?
Yes, any transaction that results in a rating change that affects the insurance premium will be charged PST. (Ex. Transfer registration, change registration term, changes to GVW (Gross Vehicle Weight) ECT.)
Will PST Be Applied to Permits?
Yes PST will be applied to the insurance premium portion of permits. (EX. 8 day permits cost $48, $24 for the premium and $24 for the registration. 6% PST will be applied to only $24 (premium) making the total price for the permit $49.44.)
Will PST Be Refunded If I Cancel?
Yes PST will be refunded on the unused premium, SGI will retain $10 for the registration and $15 on the premium for cancellation fees.
What If I’m On Autopay?
Customers on pre-authorized monthly payments will not be charged PST until they renew or make a change on or after August 1st, 2017.
If you have any questions feel free to give us a call or email!