Yan Charbonneau and Lyne Duhaime

Quebec MGAs being slapped with multimillion-dollar HST tab

Revenu Québec has begun to audit managing general agencies’ commission income prior to levying the harmonized sales tax (HST) on their gross income, including commissions received from insurers for services provided to advisors. Some firms have already received a notice of assessment. The bottom line: MGAs may have to fork over millions of dollars to Revenu Québec. Revenu Québec’s strict interpretation …