GST/HST and QST - selected listed financial institutions

In March 2012, the governments of Quebec and Canada entered into an agreement to change the Québec sales tax (QST). The QST remains a provincial tax separate from the goods and services tax/harmonized sales tax (GST/HST) and is calculated on the sale price for goods and services, without the GST.

Effective January 1, 2013, Revenu Québec no longer administers the GST/HST on behalf of the Canada Revenue Agency (CRA) for selected listed financial institutions (SLFIs) that are located in Quebec.

Also, effective January 1, 2013, the CRA administers the amended QST, on behalf of Revenu Québec, for selected listed financial institutions (SLFIs) that do business in Quebec. This includes listed financial institutions that would be SLFIs for GST/HST purposes if Quebec were a participating province (sometimes referred to as QST SLFIs).

Our fact sheet gives more information on the changes to the QST system, the tax treatment of financial services, and the administration of QST and GST/HST accounts as of January 1, 2013.

Questions and answers

Financial institutions, listed financial institutions, and SLFIs often provide a wide range of services. In addition to the supply of financial services, which are generally exempt from the GST/HST and QST, a significant number of financial institutions also supply other services, both in Canada and internationally, that are taxable.

For technical GST/HST and QST enquiries related to SLFIs, call 1-855-666-5166.

Forms and publications

• GST/HST and QST forms and publications for selected listed financial institutions

Date modified:

2014-11-20