CRA sets new date for dealers, advisors to apply GST on trailer fees
The Canada Revenue Agency has extended the deadline for wealth management firms and independent advisors to start collecting GST/HST on mutual fund trailing commissions to January 1, 2028. This 18-month extension allows the industry time to implement necessary system changes and procedural adjustments. The CRA encourages dealers to begin applying and remitting GST on trailer fees as soon as possible.
- ▪The new implementation date for GST/HST on trailing commissions is January 1, 2028.
- ▪This extension is an 18-month delay from the original deadline of July 1.
- ▪Wealth management industry groups had requested the extension due to challenges in system readiness.
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Open this photo in gallery:The Canada Revenue Agency announced an 18-month extension for dealers and independent advisors to start collecting and remitting GST/HST.Sean Kilpatrick/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountThe Canada Revenue Agency is giving wealth management firms and independent advisors until Jan. 1, 2028, to begin charging GST/HST on mutual fund trailing commissions.The new implementation date for the CRA’s revised policy on GST and trailing commissions is an 18-month extension from the original deadline of July 1.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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