Saskatchewan farmers shouldn’t be confused when it comes to the provincial sales tax exemption on some insurance premiums.
During the recent Saskatchewan Party leadership campaign, now-premier Scott Moe promised to restore the exemption on crop, hail and livestock insurance, and health and life insurance.
The PST had been added to insurance premiums as of Aug. 1, 2017, after a budgetary measure last spring.
Moe removed that cost, retroactively, on Feb. 26, but only on those specific premiums.
Farmers still pay the PST on the premium to insure farm machinery, for example.
“It’s been raised with me, with people I represent as an MLA, with respect to physical property insurance and the PST still applying to that,” Moe said last week. “Our commitment throughout the campaign was to reinstate the PST exemption on crop, hail and livestock insurance, as well as life and health insurance.”
The Feb. 26 news release proclaimed an exemption on “agriculture” premiums, although it specified crop, hail and livestock, which might account for some of the confusion.
