Canada: GST/HST and QST obligations for pension plans due 31 January 2021

Canada: GST/HST and QST obligations for pension plans

Goods and services tax (GST), harmonized sales tax (HST) and Quebec sales tax (QST) obligations related to pension plans with a calendar year-end are required by 31 January 2021.

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Employers that offer registered pension plans to their employees, and that have monthly GST/HST and QST reporting periods with a 31 December 2020 year-end, must remit the amounts of GST/HST (and, if applicable, QST) related to the pension plans by 31 January 2021.

These rules also apply with regard to master trusts in pension plan structures. Amounts of GST/HST and QST not remitted on time cannot be claimed as pension entities' rebates. Affected employers need to consider whether there may be opportunities to claim additional input tax credits or rebates.

Read a January 2021 report prepared by the KPMG member firm in Canada

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