Refunds of Saskatchewan PST in 2018

If you remember the new provincial sales tax that Saskatchewan introduced late in 2017 for insurance premiums, which was short lived, as of February 26, 2018 provincial sales tax was eliminated and it extended retroactively. The sales tax collected would be refunded to the employers and employees eventually.

Thanks to the Canadian Payroll Association (CPA), the Canada Revenue Agency (CRA) has agreed that 2017 T4 and T4As are not to be amended for the PST from August to December 2017, that are now being refunded to employers in 2018.

This means employers can reduce the taxable benefits amount to be reported on the T4 and T4A slips to reflect the total of (2017 and 2018) refund of the Saskatchewan PST the employer received in 2018.

If you have adjustments for employees who will not be receiving a T4/T4A please contact CRA for further guidance.

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