Taxation Division
Insurance Corporations Tax
Every insurer or special broker that provides insurance under a contract of insurance must pay the insurance corporations tax.
The tax rates are as follows:
- 2% of the insurer's net Manitoba premiums under contracts of life insurance, and contracts of accident and sickness insurance;
- 3% of the insurer's net Manitoba premiums under other contracts of insurance.
In addition to the above tax rates, an insurer must pay a tax equal to 1.25% of the net Manitoba premiums payable to the insurer in respect of certain contracts of property insurance. These amounts are to be deposited to the Fires Prevention Fund.
Additionally, a person who enters directly into a contract of insurance with an unlicensed insurer without the transaction being facilitated through a Special Broker must pay the insurance corporations tax on that insurance contract.
The insurance purchaser's return is available by clicking on the Manitoba Tax Forms link below.
Manitoba Tax Publications
