Learn how to submit your insurance premium tax return

You must remit insurance premium tax to Tax Administration, Department of Finance, if you:

• sell insurance in  Yukon; or
• buy insurance from providers outside the territory for Yukon residents or Yukon assets.

Both activities require that you’re in good standing with Professional Licensing and Regulatory Affairs, Department of Community Services.

Exemptions

The following contracts are exempt from the insurance premium tax:

• annuity;
• marine insurance;
• re-insurance; and
• fraternal societies.

Deadline

Insurance premium tax returns and payments must be received by the Department of Finance by 4:30 p.m., March 15 annually.

Ensure that you’re in good standing

All insurers doing business in the Yukon must hold a Yukon license with Professional Licensing and Regulatory Affairs, Department of Community Services.

Apply for an insurer license

If you did business with an insurer licensed outside the Yukon, a return is required for each month where transactions occurred.

Complete an insurance special broker’s monthly return

This is required under the Yukon’s Insurance Act and its timely completion is a condition of ongoing professional licensing. 

For questions about applying for an insurer’s license, email insurance.plra@yukon.ca,  or phone 867-667-5111, toll free in the Yukon 1-800-661-0408, extension 5111.

File and remit your insurance premium tax return

If you hold a license with the Professional Licensing and Regulatory Affairs, Department of Community Services, you’ll receive at the end of each calendar year:

• an annual reminder letter; or 
• email. 

To remit tax, you must file an annual insurance premium tax return. Filing of annual insurance premium tax return is considered complete upon receipt of the return together with the payment. There are penalties for filing your returns late. Penalties for late return are based on the date we receive the payment.

Notify us of any name changes or address changes at yk.taxreturns@Yukon.ca.

How to submit your insurance premium tax return?

1. Gather the supporting documents (if any).
2. Complete the form insurance premium tax return.
3. Calculate the tax amount due.
4. Submit your completed annual insurance premium tax return form with the tax remittance:
   In person:
   Inquiry and cash desk, 2071 Second Avenue, Whitehorse. 
   We’re open Monday through Friday from 8:30 a.m. to 4:30 p.m. Find our location on a map.
   Mail:
   Government of Yukon
   Department of Finance, Tax Administration (B-5) 
   Box 2703
   Whitehorse, Yukon Y1A 2C6
   Courier:
   Government of Yukon
   Department of Finance, Tax Administration (B-5)
   2071 2nd Avenue
   Whitehorse, YT  Y1A 1B2

Note:
If you’re remitting a Nil return, the signed insurance premium tax return form can be emailed to yk.taxreturns@yukon.ca. You do not have to mail the original.

If you have tax payable, submit the tax return and the cheque together.

What happens if you file late?

You’ll be charged interest at the rate of 10% per annum from the date on which the tax was due until payment is made.

Premium tax rates

From January 1, 2021, a single tax rate of 4% applies to all insurance premiums. This tax rate is applied to:

• the amount of gross premiums; less
• dividends paid; or
• premiums returned within the year.

Insurance premium bulletins

We provide insurance premium tax bulletins as an aid to understanding the Insurance Premium Tax Act. 

Read insurance premium tax bulletins.

Find historical Yukon tax rates

Read historical Yukon tax rates, including insurance tax rates.