Back in April, the Government of Newfoundland and Labrador decided to eliminate the remaining tax on auto insurance. They gave the insurance companies (Aviva, Travelers, Intact, etc.) until the end of September to get it all sorted. So now people are wondering when they can expect their tax rebate.
Here are 9 things you need to know about the tax rebate on automobile insurance; including when you can expect to receive your rebate and how this is being done:
- The elimination of the tax pertains to auto insurance including personal vehicles such as cars, motorcycles, ATVs and other recreation vehicles
- The elimination of the tax also applies to commercial vehicles, such as taxis, school buses, trucks (fire, police) and tractor-trailers
- The Government of NL have determined that the taxes charged on personal property and other commercial policies (excluding commercial auto) will continue to be subject to a tax
- Any customer that renewed their auto policy on or after April 15, 2019 will receive a rebate for any taxes that were paid
- For policies in force before April 15, 2019, the NL Government have determined that there will be no refund of the tax
- The insurance company (Aviva, Intact, Travelers, etc.) that collected the tax is responsible to ensure customers receive the appropriate RST refund
- Customers on payment plans will have the RST removed and their remaining payments recalculated and reduced based on the amount of their tax rebate
- Customers who paid in full will receive a refund cheque in the mail; if there are any outstanding balances the refund will be adjusted accordingly
- Rebates and changes will be made by the insurance companies prior to the end of September
If you would like more information on the elimination of the tax on auto insurance, or if you have any questions on your home or auto insurance, please contact Munn Insurance today toll-free at 1-855-726-8627.