The provinces that charge HST (harmonized sales tax) are: British Columbia, New Brunswick, Nova Scotia, Newfoundland and Labrador, and Ontario. This tax combines and replaces the PST (provincial sales tax) and GST (goods and services tax). The provinces that GST and PST are: Manitoba, Prince Edward Island, Quebec, and Saskatchewan. The provinces that charge only GST are: Alberta, Northwest Territories, Nunavut, and Yukon.
Taxes are levied by provincial and/or federal governments, and affect the cost of financial services depending on how the product or service is classified. Some services, such as administrative fees, are subject to either HST or GST, depending on your province or territory. Questrade is obliged to charge these taxes and remit them to the appropriate agency. And in some instances, taxes may be included in the price of a product you buy (like the HST on the MER fee for mutual funds). Questrade doesn’t charge this tax; the fund company does on behalf of the government.
The good news? Some services are tax-free, such as trading commissions.
As your brokerage, we strongly encourage you to research how taxes affect your bottom line, and then make your trading decisions based on your unique circumstances.
Throughout our website, particularly in the pricing section, we are noting where HST or GST is charged to a product or service. Follow the links below for your provincial and federal agencies to find out the current tax rate.
Market data packages are subject to HST or GST. If you are eligible for data rebates, you will be credited the rebate every month, however you will still incur the cost of the HST or GST.
To find out how much you can get back with our commission rebate on data plans, go to our data plan page.
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