Canadian Life & Health Insurance Facts // 2025 Edition 26
Insurers' Tax Contributions
I N D U S T R Y I N D E T A I L
Canadian life and health insurers contributed $12.1 billion in taxes
of total tax contributions
are premium-based taxes*
Provincial Taxes
* The industry's contribution is especially high for health insurance, accounting for about 50 per cent of value-add generated.
See Piling On - How Provincial Taxation of Insurance Premiums Costs Consumers, C.D. Howe Institute.
Nearly 50%
Taxes borne: $6.8B Taxes collected: $5.3B
Corporate income tax &
federal capital tax: $2.9B
Provincial premium tax:
$2.1B
Payroll & other taxes
borne: $1.8B
Federal payroll taxes
collected: $1.8B
Provincial retail sales tax
on premiums: $3.5B
Taxes borne are taxes paid by
insurers directly to governments.
Taxes collected are taxes that
insurers collected from customers
and employees and paid to
governments on their behalf.
$
12.1B
2024 total tax
contributions
TERRITORIES
$
9M
BC
$
318M
AB
$
337M
SK
$
86M
MB
$
147M
ON
$
4B
QC
$
2.6B
NL
$
77M
NS
$
71M
PEI
$
14M
NB
$
56M
$4.4B
Federal
taxes
