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Newfoundland HST, Transitional Rules for HST Increase Released

The Department of Finance for the Province of Newfoundland and Labrador has released the transitional rules for the Newfoundland HST rate increase to come into effect for July 1, 2016.

Per their website:

On April 14, 2016, the Government of Newfoundland and Labrador announced its intention to increase the rate of the Newfoundland and Labrador component of the HST to a rate of 10 per cent effective July 1, 2016, resulting in an HST rate of 15 per cent in Newfoundland and Labrador. Transitional rules are required to determine which tax rate ā€” the existing HST rate of 13 per cent or the new HST rate of 15 per cent ā€” would apply in respect of transactions that straddle July 1, 2016.

The Newfoundland HST transitional rules can be found by clicking here.