Return to PST Seminar

The PST is coming. Are you ready?

The Mission Regional Chamber of Commerce and Community Futures are sponsoring a workshop and question session to help business prepare for the April 1 tax changes. This workshop is for all businesses that plan to operate in BC after April 1, 2013.
 
Presented by Ann Harper, a Chartered Accountant, who understands the specific needs of small business, and can help make implementing the new tax a less stressful experience. Ann works with many local small businesses, and operates the Mission City Business Centre.
 
 Ann Harper has been “helping small businesses grow” for the last twenty years.  She has experience working for two of the Big Four Accounting firms and has been a sole practitioner with her own practice in Mission for the last 4 years.  In addition to her own accounting practice, Ann is also the owner of Mission City Business Center a small business that offers shared office space to small businesses.  Ann has led several small business seminars on RRSPs vs TFSAs, how to start a small a small business and financial literacy.   Ann is the Treasurer of the Mission Community Foundation and the Mission Regional Chamber of Commerce and the Director of Administration for the Mission 2014 BC Winter Games.

 

The Basics

When will the PST be re-implemented?

The PST will be reinstated effective April 1, 2013.

Will the PST be re-implemented at 7%?

British Columbia’s provincial sales tax (PST) will be re-implemented effective April 1, 2013 at a general tax rate of seven per cent.

Will all permanent PST exemptions return?

The PST will apply to the same goods and services that were subject to PST prior to the implementation of the HST. All permanent PST exemptions will be re-implemented with the new PST, including:

• all food for human consumption (e.g. basic groceries and prepared food such as restaurant meals);
• most services (e.g. personal services such as haircuts, dry cleaning, funeral services);
• admissions and memberships;
• bicycles;
• newspapers and magazines; and
• all permanent PST exemptions for business.

How will the PST Apply?

The re-implemented PST, like the previous PST, will be a retail sales tax that is payable when a taxable good or service is acquired for personal use or business use, unless a specific exemption applies.
PST generally applies to:

• the purchase or lease of new or used goods;
• goods brought into BC for use in BC;
• the purchase of most services to goods (for example, vehicle maintenance, furniture assembly, computer repair);
• the purchase of telecommunication services including internet access, non-basic cable, non-residential telephone services, cell phone use, satellite services and facsimile services; and
• the purchase of legal services.

Read more about the Province’s plan to return to PST.