HST
On July 23, 2009, the BC Government announced its plans to harmonize the provincial sales tax ("PST") with the federal Goods and Services Tax ("GST") effective July 1, 2010. As a result, the BC Harmonized Sales Tax ("HST") rate will be 12% (7% provincial and 5% federal) effective July 1, 2010. On October 14, 2009, the BC government released the transitional rules in respect to the implementation of HST. The transitional rules provide a guideline on the transition to the HST system.
The change to an HST system may have a significant impact on you. We have highlighted some of the key considerations in moving from PST to HST, as well as some of the transitional issues surrounding the implementation date of July 1, 2010. We will be providing more information as it becomes available.
If you have any questions regarding HST, contact your Smythe Ratcliffe Tax Partner.
Overview
GST/HST Versus PST
HST Impact on Business * New
HST Impact on Consumers
Low Income Credit
New Housing Rebate
Transitional Rules
Prepayments on Goods or Services
Services
Leases
Real Property
Overall Comments
HST Impact on Sectors
Real Estate * New
Private, Member-Owned Clubs * New
Rebates for Charities and Non-Profit Organizations * New
HST Sales Tax Harmonization in BC for Medical Practitioners * New
Current as of May 11, 2010