Manitoba amends decision for new tax on life insurance

The Manitoba government has made the decision to amend Bill 39. The legislation will now exempt individual CI and DI from the retail sales tax (RST) that’s being imposed on a variety of insurance premiums.

This news comes on the heels of the Manitoba government proposing a 7% RST on CI and DI.

“[This] will encourage Manitobans to continue to financially protect their families and businesses from health risks without sacrificing coverage,” says Greg Pollock, president and CEO of Advocis.

Read: Manitoba’s new tax on life insurance hurts clients: CLHIA