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traceyopperman
March 12, 2019
Solved

Do Canadian banks include HST in our day-to-day banking fees? i.e. transfer fee of $1 etc

  • March 12, 2019
  • 2 replies
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Original commenter did not share additional details
Best answer by RenjolynC

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.

2 replies

RenjolynC
RenjolynCAnswer
March 12, 2019

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.

A
Anonymous
March 31, 2019

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.

    N
    Norman_C
    April 16, 2019

    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.

      E
      evanddavidson
      March 28, 2020

      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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