Blog: REMINDER: Changes to the HST rates applicable as soon as July 1, 2016, be ready!

June 23rd, 2016 Modifications importantes concernant les dates limites de production de déclarations de revenus fédérales aux États-Unis

The HST, where applicable, is comprised of the 5% GST and a provincial component the rate of which is determined by each participating province independently.

Be ready! Three participating provinces are raising their HST rates this year:

Newfoundland and Labrador – HST increased to 15% starting July 1, 2016

Effective July 1, 2016, Newfoundland and Labrador                                                                                    will increase the provincial component of the HST                                                                                      from 13% to 15%.

The new HST rate will consist of the provincial component of 10% and the federal component of 5% for a combined rate of 15%.

New Brunswick – HST increased to 15% starting July 1, 2016

Effective July 1, 2016, New Brunswick will increase the provincial component of the HST from 13% to 15%. The new HST rate will consist of the provincial component of 10% and the federal component of 5% for a combined rate of 15%.

Prince-Edward Island – HST increased to 15% starting October 1, 2016

Effective October 1, 2016, Prince Edward Island will increase the provincial component of the HST from 14% to 15%. The new HST rate will consist of the provincial component of 10% and the federal component of 5% for a combined rate of 15%.

Transitional rules are applicable and may affect transactions made prior to July or October 2016. Please contact our Indirect tax team for additional information.

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