Canada: GST/HST bill, various business sectors | KPMG | GLOBAL

Canada: GST/HST bill would affect various business sectors

Canada: GST/HST bill, various business sectors

Businesses across many industries would be affected by goods and services tax / harmonized sales tax (GST/HST) changes.

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Many previously proposed GST/HST measures—including changes to pension plan rules and drop-shipment rules—were included in Bill C-63 (released 27 October 2017). 

Although the bill includes many of the proposed GST/HST measures included in previously released draft legislation (released 8 September 2017 and 22 July 2016), it does not include the proposed changes related to general partners of investment limited partnerships and the expansion of the application of the selected listed financial institution (SLFI) rules to investment limited partnerships. Also, the bill does not include any of the proposed changes to the GST/HST SLFI regulations.

The proposed changes included in the bill would affect a broad range of business sectors, including:

  • Public service bodies, including charities and qualifying non-profit organizations
  • Some selected listed financial institutions (SLFIs)
  • Employers that offer registered pension plans to their employees, pension entities, and master pension entities 
  • Businesses that sell goods and services to non-residents subject to the drop-shipment rules

 

Read an October 2017 report prepared by the KPMG member firm in Canada

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