Canada: HST rate increase in Newfoundland, Labrador

Canada: HST rate increase in Newfoundland, Labrador

Newfoundland and Labrador released transitional rules relating to the upcoming increase of the harmonized sales tax (HST) to 15% (from 13%) beginning 1 January 2016. The province has provided guidance including general descriptions of the rules. Certain businesses, especially builders, are immediately affected by these rules.

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Based on the transitional rules, for many supplies, suppliers are generally required to collect 15% HST on the consideration that becomes due without having been paid, or is paid without having become due, on or after 1 January 2016.

Read a July 2015 report prepared by the KPMG member firm in Canada: Newfoundland and Labrador Releases Transitional Rules for Upcoming HST Rate Increase 

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