Willies Blog » british columbia http://www.blog.willieswesternwear.com Willies is The Place to Shop for Casual Clothing and Western Wear Tue, 24 Jan 2012 15:55:38 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 BC to Harmonize Sales Tax with GST http://www.blog.willieswesternwear.com/2009/07/bc-to-harmonize-sales-tax-with-gst/ http://www.blog.willieswesternwear.com/2009/07/bc-to-harmonize-sales-tax-with-gst/#comments Thu, 23 Jul 2009 19:55:28 +0000 paula http://www.blog.willieswesternwear.com/?p=517 Finance Minister Colin Hansen announced today that British Columbia will harmonize its provincial sales tax with the federal GST. The harmonized sales tax in BC will be 12 per cent, the lowest in the country. The change to the tax will take effect July 1, 2010 and will apparently reduce sales taxes paid by business by $1.9-billion and save businesses $150-million in administrative costs. We shall see….

According to the Provincial Government’s Press Release, the proposed HST will include:

  • Unlike any other province, B.C. will provide an automatic point-of-sale rebate so consumers do not have to pay the provincial portion of the HST at the pump for purchases of gasoline and diesel fuel for motor vehicles, including any biofuel components.
  • A partial rebate of the provincial portion of the single sales tax for new housing to ensure that new homes up to $400,000 will bear no more tax than under the current PST system, while homes above $400,000 will receive a flat rebate of about $20,000.
  • A refundable B.C. HST Credit paid quarterly with the GST and carbon tax credit to offset the impact of the tax on those with low incomes.
  • A temporary delay in the provision of input tax credits for certain purchases by businesses with taxable sales in excess of $10 million.
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