Canadian insurance rates # Video
Canadian insurance rates Canadian insurance rates ******* Ontario Insurance Premium Tax Premium tax is a tax on insurance premiums in respect of people living in Ontario and property situated in Ontario. The tax is administered by the Ontario Ministry of Finance. Who pays Ontario insurance premium tax? Along with insurance companies, premium tax is collected and paid to the province by: administrators of funded and unfunded benefit plans, also referred to as Ontario uninsured benefit arrangements anyone buying insurance placed with an insurer not licensed in Ontario reciprocal or inter-insurance exchanges. Generally, insurance corporations operating a business through a permanent establishment in Ontario pay premium tax on all premiums. What are the insurance premium tax rates? How do I register for an insurance premium tax account? Before you can register for an insurance premium tax account, you need an Ontario corporation number. Then, you can request an insuranc...