Programs & Services
Insurance Premiums Tax
The Insurance Premiums Tax Act imposes a tax on insurance companies that do business in Saskatchewan. In addition, The Motor Vehicle Insurance Premiums Tax Act levies tax on gross motor vehicle insurance premiums and The Fire Prevention Act, 1992, levies tax on premiums written relating to fire insurance.
Collected under the authority of The Insurance Premiums Tax Act.
3% of the gross premiums of life, accident and sickness (increased from 2% effective April 1, 2000) and hail insurance. The rate for individual life, accident, and sickness insurance policies in force before April 1, 2000 is taxed at 2% until such time as the individual policy no longer exists.
4% of gross premiums on all other insurance transacted in Saskatchewan (increased from 3% effective April 1, 2000).