2017 Changes!   

Big changes to the voluntary disclosure program for GST and HST non-compliance issues.

No QST changes announced in Quebec Budget 2017.

2017 Federal Budget announced March 22 - see Newsletter for details

Saskatchewn PST 1% rate increase to 6%, effective March 23, 2017 - see new publications available on Saskatchewn website.  

Effective April 1 2017, PST will be applicable to numerous goods and services that have generally been exempt from tax, including, restaurant meals, children’s clothing and services to real property. The commission allowance for the collection and remittance of Provincial Sales Tax has been eliminated for tax returns with a due date after April 20, 2017.

Government Announces the 2017 Automobile Deduction Limits and Expense Benefit Rates for Business  - No changes for 2017 other than the  general prescribed rate that is used to determine the taxable benefit of  employees relating to the personal portion of automobile operating expenses  paid by their employers will be reduced by 1 cent to 25 cents per kilometre. For  taxpayers who are employed principally in selling or leasing automobiles, the  prescribed rate used to determine the employee’s taxable benefit will be  reduced by 1 cent to 22 cents per kilometre.

HST RATE CHANGES - 2016

15% New Brunswick and Newfoundland and Labrador effective January 1, 2016. New Brunswick - Transitional Rules and Newfoundland and Labrador Transitional Rules.

15% Prince Edward Island effective October 1, 2016. General Transitional Rules for Prince Edward Island

LARGE BUSINESS TEMPORARY RECAPTURED INPUT TAX CREDITS IN ONTARIO - PHASE OUT PERIOD BEGAN ON JULY 1, 2015 FOR 3 YEARS

Recapture rate is 50% effective July 1, 2016 and 25% effective July 1, 2017. Refer to CRA Info Sheet GI-171, Phasing out of Recaptured Input Tax Credits in Ontario

Quebec Budget Watch...  In 2015 Quebec mentioned a possible QST rate increase. Could it happen in 2017? Also, Quebec is in discussions with the federal government in order to obtain consent to administer registration requirements that would make it mandatory for businesses located outside Quebec, with no physical or significant presence in the province, to register for QST when making taxable supplies in Quebec.