Webnames.ca StaffHST is out and PST is coming back to British Columbia on April 1, 2013. We would like to remind everyone that it is important to register early so your business is better prepared for the transition.
Why you SHOULD register early:
- Gain knowledge of taxable and non-taxable goods
- Prepare your systems, and adjust them accordingly for the transition back to PST
- Avoid delays and being backlogged, the earlier you register for PST, the faster your business can transition to it.
Businesses in BC also need to register to collect PST. Most BC businesses are required to register to collect PST, while some are not. You need to register to collect PST if your business falls under the following:
- sell taxable goods, like alcoholic beverages, motor vehicles, furniture;
- lease taxable goods;
- provide services to taxable goods, like repair and restoration services;
- sell software;
- provide legal or telecommunication services
- provide four or more units of accommodation
What PST means for businesses outside British Columbia?
Nothing changes for business outside of BC. Companies that purchase goods and/or services in BC will still get charged according to the tax rate in their respective provinces. For example, Ontario will be charged according to the HST rate, while Alberta will only be charged for GST.
For companies outside Canada, they will not be charged any tax for any goods and/or services purchased in BC.
Visit www2.gov.bc.ca for more information.
To learn more about the transition back to PST, you can also listen in on PST webinars and seminars at PST Outreach.