Do you have a permanent establishement in Quebec?

If you are an SLFI that does have a permanent establishment in Quebec, see GST/HST and QST - selected listed financial institution.

Notices to reader

Under proposed changes, interest earned in respect of demand deposits, as well as term deposits and guaranteed investment certificates with an original date to maturity not exceeding 364 days, would not be included in determining whether the person exceeds the $1 million threshold. This measure will apply to taxation years of a person beginning on or after Budget Day and to the fiscal year of a person that begins before Budget Day and ends on or after that day for the purposes of determining if the person is required to file the Financial Institution GST/HST Annual Information Return. For more information, see De Minimis Financial Institutions in the 2016 Federal Budget  - Tax Measures: Supplementary Information.

Under proposed changes, it is clarified that two specific components of imported reinsurance services, ceding commissions and the margin for risk transfer, do not form part of the tax base that is subject to the self-assessment provisions contained in the GST/HST imported supply rules for financial institutions. Specific conditions are set out under which the special rules for financial institutions do not impose GST/HST on reinsurance premiums charged by a reinsurer to a primary insurer. For more information, see Application of GST/HST to Cross-Border Reinsurance in the 2016 Federal Budget  - Tax Measures: Supplementary Information.