Quebec budget released on March 30, 2010: Impact to Group Benefits

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The Quebec budget was released on March 30, 2010, and there were several significant measures announced. While we continue to review the budget, below is an outline of the tax increase effective on March 31, 2010. More information will be released as it becomes available.

 

Quebec Premium Tax (QPT) rate increase effective March 31, 2010                                                   

The compensatory tax rate of 0.35% has increased to 0.55% effective March 31, 2010. This means the Quebec premium Tax rate is now 2.55%.

 

What does this mean to you? 

 

  • Premium rates will include the increased premium tax rate. Renewal rates released after April 1, 2010 will include the new rate.

 

 

Questions?

Please contact your Sun Life Financial group representative.