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kurtzfan

PST BACK ON APRIL 1ST, Any difference to you?

39 posts in this topic

PST CHART WHAT'S INCLUDED/ WHAT'S NOT INCLUDED:

http://www.millertho...tion-of-the-pst

The $230 BC HST credit will be replaced with a $75 PST credit.

(d) Hotel Room Tax

The short term accommodation tax (formerly known as the Hotel Room Tax) will be reinstated on April 1, 2013. The tax will be 8% and will apply in the same manner as it did prior to being repealed.

The Municipal and Regional District Hotel Room Tax will continue to apply.

(f) Liquor Taxes and Mark-Ups

The special 10% rate for PST on liquor will be reinstated. Liquor mark-ups will be reduced to pre-HST levels in order to keep liquor prices constant.

Exemptions

The new PST will also provide for many exemptions from the tax, including all of the same permanent exemptions that applied under the old PST. Importantly, there will be various business exemptions which will apply to such things as goods incorporated into other goods for resale and production machinery. There will also be an exemption for purchases or leases of goods that are intended to be leased.

The following is a list of some of the other items that will be exempt from the PST:

residential housing and commercial real estate;

most services, like dry cleaning, funeral services, and haircuts;

food for human consumption, other than water, ice, and any prescribed food products;

transportation fares, like airline fares, bus fares, ferry fares, and train fares;

fuel taxed or exempt under the Motor Fuel Tax Act;

in certain circumstances, a taxable component sold with a non-taxable component for a single price;

goods sold for less than 15 cents; and

books, newspaper and magazines; bicycles; children's clothing and footwear; and used cloths under $100.

Rates

The PST will have a general rate of tax of 7%. The 7% rate will apply to most items. However, there are also several special rates.

There will be a special varying rate for sales and leases of "luxury vehicles". An 8% rate will be applied to vehicles with a price that ranges from $55,000 to $55,999, a 9% rate for vehicles with a price that ranges from $56,000 to $56,999, and a 10% rate for vehicles with a price equal to or greater than $57,000.

Other special tax rates include a 12% rate on private sales of aircraft, boats and vehicles, and a 10% rate on liquor.

Taxable Supplies

The new PST will apply to the same goods and services that were subject to the old PST. This means the PST will apply to the following:

purchases or leases of new or used goods;

purchases of telecommunication services, like cell phone use, internet access, non-basic cable, non-residential telephone service, and satellite service;

purchases of software;

purchases of accommodation;

purchases of legal services;

purchases of services provided in relation to goods, like computer repair and vehicle maintenance; and

goods that are brought or sent into BC for use in BC.

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Should have kept the HST you dingoes.

Would have benefited us more but all everyone cared about was how it was brought in. (Which I admit was sneaky but then I guarantee it wouldn't have ever been up for referendum)

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Should have kept the HST you dingoes.

Would have benefited us more but all everyone cared about was how it was brought in. (Which I admit was sneaky but then I guarantee it wouldn't have ever been up for referendum)

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rejoice all those government workers we bought out when we went to HST can now be rehired and make even more money! (the feds did all the accounting for HST in ontario, pst is collected/accounted for in BC or at least it was before)

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rejoice all those government workers we bought out when we went to HST can now be rehired and make even more money! (the feds did all the accounting for HST in ontario, pst is collected/accounted for in BC or at least it was before)

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Good. my customers will save tens of thousands. HST was costing me $1-3000 a year.

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What kind of business are you in anyways? Through all of this I've been in retail sales and RV sales, and my clients pay the same damn price either way.

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Nope - because I moved to Alberta.

PST? HST? Bah...done with them both.

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Good. my customers will save tens of thousands. HST was costing me $1-3000 a year.

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Nope - because I moved to Alberta.

PST? HST? Bah...done with them both.

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Won't really notice it other than as a reminder of my fellow voters idiocy.

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I never really noticed it that much. When it goes back doubt I will notice much of a change.

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Living in Edmonton, all I have to worry about is how my local government is going to tax me for the stupid new arena. :/

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I never really noticed it that much. When it goes back doubt I will notice much of a change.

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Living in Edmonton, all I have to worry about is how my local government is going to tax me for the stupid new arena. :/

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I suppose accountants will be happy as this is a make work project for them.

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As an accountant, the PST pisses me off because it gives me more day-to-day monotonous work to do.

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