No RST? What does that mean for you? - Winnipeg Insurance Brokers Ltd.

No RST? Find Out What That
Means To Me!

June 29, 2020

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Great news is coming for Manitobans on July 1st when property insurance becomes exempt from Retail Sales Tax (RST). What does that mean for you? It means saving money on your property insurance!

Effective July 1st, residential and business property insurance will be exempt from RST. This includes any new policies and any existing policies that renew after June 30th. Following are some examples of insurance contracts that qualify for the exemption:

Insurance on land and buildings located in Manitoba including:
- property damage insurance;
- sprinkler leakage insurance;
- fire insurance;
- flood insurance;
- sewer backup insurance;
- weather insurance;
- and related business interruption or income insurance that are included in a property insurance policy and not purchased as a separate policy.
Mortgage insurance.
Insurance on the contents of:
- leased residential premises
- condominium unit
- unit of a housing cooperative
- commercial premises (unless all or substantially all of the contents are inventory)
Builder’s risk insurance taken on a building under construction in Manitoba.

Note that there are always exceptions to every rule, and that applies to certain coverages here too. Let our Insurance Consultants answer any questions that you have. They are hard at work ensuring that you have all of the information and proper exemptions on your policy that you need when the exemptions come into play.

Have questions or need to get some property insurance?! Contact us today and we’ll be delighted to assist you!