Increase in Quebec sales tax (QST)
On January 1, 2011, the Quebec sales tax (QST) increased from 7.5% to 8.5%. Therefore, fees will be modified to reflect the tax increase for all groups whose payments are subject to QST.
Please note that the applicable tax rate of 9% on insurance premiums that is currently applied to regular group insurance contracts is not impacted by the new tax rate increase.
If you have any questions or concerns regarding this matter, please contact your benefits advisor or Industrial Alliance group account executive.