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ATTENTION BUSINESS OWNERS – Self Assessment of RST


Richard Weber on September 1, 2010 in Advice for Business Owners

Prior to the HST businesses providing self insured benefits to their employees such as Health Expense Accounts, Private Health Spending Plans etc, were required to self assess and remit the RST on those benefits. Post HST this self assessment is still required and businesses must continue to self assess the 8% tax on these benefits. Effective June 30, 2010, all RST accounts were closed. Accordingly businesses providing self-insured benefits must contact the Ministry to re-register.