Saskatchewan Ministry of Finance Posts PST Information Notice
IN 2018-08 – Surety Bonds

The Saskatchewan Ministry of Finance has released a notice of clarification regarding the application of the PST to surety bond premiums. The PST is to be applied on all surety premiums issued. However, the Ministry’s Notice IN 2018-18 indicates that for bonds issued in favour of the project’s owner, there is some PST relief available. If the PST is noted as a separate line item on the bond invoice, it can be invoiced to the owner on a cost recovery basis as a tax included item.

IN 2018-08 provides clarification as to what the statute originally intended. Please see Notice IN 20018-18 for further details – link below.

http://www.publications.gov.sk.ca/details.cfm?p=90198

Saskatchewan Electrical License Bond Changes

Effective July 1, 2018, the Electrical Contractor Guarantee Bond requirement for Saskatchewan will be increasing from $5,000 to $10,000. We have updated to our E-Service portal to issue the updated bond wording with the increased bond penalty. The Province of Saskatchewan has confirmed that all current bonds in force will require an endorsement to increase the bond value prior to the renewal of the client’s license. Those clients who have multi-year bonds in place will need to have these updated in the near future to avoid any issues. For more information on the changes, please refer to the link below.

https://www.saskatchewan.ca/residents/jobs-working-and-training/becoming-a-licensed-professional/electrical-licensing

 

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