Canada: GST/HST and QST obligations for pension plans due 31 January 2022
Goods and services tax (GST), harmonized sales tax (HST) and Quebec sales tax (QST)
Pension plans due 31 January 2022
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 2022.
Employers that offer registered pension plans to their employees, and that have monthly GST/HST and QST reporting periods with a 31 December 2021 year-end, must remit the amounts of GST/HST (and, if applicable, QST) related to the pension plans by 31 January 2022.
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 2022 report prepared by the KPMG member firm in Canada
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.