Finance Minister promises return to pre-HST tax exemptions
B-C’s Finance Minister says all permanent tax exemptions that were eliminated when the HST was introduced will return when the PST is re-established next year.
Kevin Falcon introduced legislation today committing a return to the Provincial Sales Tax on April 1, 2013.
“There will be no PST on purchases like food, restaurant meals, bicycles, gym memberships, movie tickets… Or for personal services, like hair cuts, just as it was previously. This legislation is the first step in modernizing and streamlining the former Provincial Sales Tax Act.”
The province will continue to work on regulations to fully establish the exemptions, and hope to table a final proposed version of the legislation this fall.
Falcon also announced several measures they believe will improve the PST. That includes a $16-million investment in creating an online service to allow businesses to update their accounts and make payments.