Province inches one step closer to scrapping auto insurance tax
insurancebusinessmag | June 20, 2019
The province of Newfoundland and Labrador has inched one step closer to scrapping tax on auto insurance after legislators introduced a proposed amendment to the Revenue Administration Act.
The amendment, which is yet to be passed, was presented by Finance Minister Tom Osborne in the House of Assembly on Tuesday, June 18. Once passed, which Osborne expects will happen at the end of the month, the amendment will put an end to the 13% tax on auto insurance renewal statements.