- sell insurance in Yukon; or
- buy insurance from providers outside the territory for Yukon residents or Yukon assets.
Both of these activities require that you are in good standing with Professional Licensing and Regulatory Affairs.
To remit tax, you must file an annual insurance premium tax return. There are penalties for filing your returns late.
The following contracts are exempt from the insurance premium tax:
- marine insurance;
- re-insurance; and
- fraternal societies.
Get an insurance premium tax reference number
- Contact us. Email: firstname.lastname@example.org.
- At the end of each calendar year you’ll receive:
- an annual letter; and
- the insurance premium tax return form.
- Notify us of any name changes or address changes.
Insurance premium tax returns and payments must be received by the Department of Finance by 4:30 p.m., March 15 annually.
Before you apply
Ensure that you are in good standing
All insurers doing business in Yukon must hold a Yukon licence with Professional Licensing and Regulatory Affairs, Department of Community Services.
If you did business with an insurer licensed outside Yukon, a return is required for each month where transactions occurred.
This is required under Yukon’s Insurance Act and its timely completion is a condition of ongoing professional licensing.
Prepare your tax return
Taxation years up to 2020
- Complete the insurance premium tax return (2020 and prior taxation years).
- Calculate the tax amount due.
Taxation years from 2021
- Complete the insurance premium tax return (2021 and later taxation years).
- Calculate the tax amount due.
Insurance premium bulletins
We provide insurance premium tax bulletins as an aid to understanding the Insurance Premium Tax Act.
Submit your insurance premium tax return
- Gather any supporting documents.
- Submit your completed annual insurance premium tax return and tax remittance.
Inquiry and cash desk, 2071 Second Avenue, Whitehorse. We are open Monday through Friday from 8:30 a.m. to 4:30 p.m. Find our location on a map.
Government of Yukon
Department of Finance (B-1)
What happens if you file late?
You will be charged interest at the rate of 10% per annum from the date on which the tax was due until payment is made.
How to get a tax refund
- Confirm your eligibility. Email: email@example.com.
- Gather these supporting documents for your application:
- copies of provincial exhibits with annual return; and
- a cover letter explaining the reasons for the refund claim.
Premium tax rates
The following tax rates are applied to:
- the amount of gross premiums; less
- dividends paid; or
- premiums returned within the year.
2021 calendar year
From January 1, 2021, a single tax rate of 4% will apply to all insurance premiums. This will apply to your tax return for the 2021 calendar year.
2020 calendar year
2% tax rate
- Accident and sickness
- Aircraft, auto liability
- Auto personal accident
- Auto other
- Liability insurance
Additional 1% tax rate
- Fire risk on hand
- Property damage
Find historical Yukon tax rates
- Read historical Yukon tax rates, including insurance tax rates.
If you have questions, email firstname.lastname@example.org.