Does British Columbia have a provincial sales tax?

The B.C. provincial sales tax (PST) is a retail sales tax that applies when taxable goods or services are purchased, acquired or brought into B.C. for use in B.C., unless a specific exemption applies. Find out if your business is required to register to collect PST.

What is GST and PST charged on in BC?

Sales Taxes in British Columbia British Columbia is one of the provinces in Canada that charges separate 7% Provincial Sales Tax (PST) and 5% federal Goods and Services Tax (GST). Most goods and services are charged both taxes, with a number of exceptions.

Do Albertans have to pay PST in BC?

Yes, you will have to pay PST on most taxable items that you rent (equipment, for example) or purchase in BC, and take possession of in BC. There are exceptions for motor vehicle purchases, in certain circumstances (see below). Am I required to charge PST to tourists and other customers that live outside BC?

Does BC have HST or PST?

After briefly converting to a harmonized sales tax (HST) the province of British Columbia (BC) returned to a PST (Provincial Sales Tax) system on April 1st, 2013. The PST rate is currently seven percent on applicable goods and services.

What is GST exempt in BC?

The following are examples of GST exempt goods and services: used residential housing; long-term residential accommodation (one month or more) and residential condominium fees. most health, medical, and dental services performed by licensed physicians or dentists for medical reasons.

What is considered low income in B.C. 2020?

5. Individuals resident in British Columbia on December 31, 2020 with taxable income up to $20,698 generally pay no provincial income tax as a result of a low-income tax reduction.

How much would tax be on 400 dollars?

A tax of 7.5 percent was added to the product to make it equal to 430. So, divide 7.5 by 100 to get 0.075. Divide the final amount by the value above to find the original amount before the tax was added. In this example: 430 / 1.075 = 400.

Do I need to collect PST in BC?

Yes, you must charge PST on all taxable goods and services you sell in B.C., unless a specific exemption applies. There are no general exemptions that apply if you sell goods or services in B.C. to customers that live outside B.C. (e.g. tourists).

Who is exempt from PST in BC?

These include exemptions for: health and medical products, and equipment for persons with disabilities (PDF) adult-sized clothing and footwear for kids under 15 years of age (PDF) school supplies for students (PDF)