For all of our young entrepreneurs in British Columbia, please be reminded that most businesses in B.C. should have already registered for the upcoming return of the provincial sales tax (PST), due to the replacement of the harmonized sales tax (HST) in the province on April 1, 2013.
The PST taxation rate will be seven percent on most goods and services bought and sold in B.C., but some goods will be taxed at higher rates. The GST taxation rate will be five percent, where it applies.
This PST Checklist is a great resource for B.C. businesses because there is information you need to know and understand today, in order to make life easier for you and your business.