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traceyopperman
Mar 12, 2019 1:30 AM UTC
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Do Canadian banks include HST in our day-to-day banking fees? i.e. transfer fee of $1 etc

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RenjolynC
RenjolynCAnswer
Mar 12, 2019 1:30 AM UTC

Hello traceyopperman,

We'd want you to have the right answers to your HST-related concerns. 

It's best to get in touch with your bank directly. They'd be able to look up your account and verify if the bank fees include HST.

Feel free to visit the Community if you have any additional questions or concerns. Thank you.

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5 replies

RenjolynC
RenjolynCAnswer
Mar 12, 2019 1:30 AM UTC

Hello traceyopperman,

We'd want you to have the right answers to your HST-related concerns. 

It's best to get in touch with your bank directly. They'd be able to look up your account and verify if the bank fees include HST.

Feel free to visit the Community if you have any additional questions or concerns. Thank you.

Anonymous
Mar 31, 2019 8:53 PM UTC

Hi,

 

So, do you mean that whether to charge HST on bank charges is the bank's discretion?

 

I came to this discussion thread thinking there would be a definitive Yes or No answer.

    Norman_C
    Apr 16, 2019 7:58 PM UTC

    traceyopperman:

    Finance charges do not include HST.  They are HST-exempt.

    As to bank charges for printing of cheques, that may be another matter - never had a clear understanding of yes/no on that one! I suspect they too are exempt.

      evanddavidson
      Mar 28, 2020 4:41 PM UTC

      Most services provided by financial institutions (such as fees for bank accounts) are GST/HST exempt in Canada.

      https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4027/doing-business-canada-gst-hst-information-non-residents.html#P187_10412

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