It seems like only yesterday we said good-bye to this tax, yet here we are again having to deal with it. I miss the single sales tax already!
Most businesses that are required to register should have already received their Registration Package. If you haven’t received your package there are several ways to register:
- In person
- By mail or fax
If your business has taxable sales or services you are required to register. A better question would be ‘What is a taxable sale or service?” It is probably easier to tell you what isn’t…
Some of the business that are not required to register include:
- wholesalers that do not make retail sales
- small suppliers (annual sales less than $10,000)
- independent sales contractors only selling exclusive products
- Accountants (not kidding)
When in doubt, call the Service BC Centre and speak to an agent 1-877-388-4440 7am to 7pm Monday to Friday.
Improvements to PST reporting:
- Due date – the due date of the return is now one month after the reporting period for monthly remitters. This is more in line with with the GST return is due. This gets a thumbs up from me. (Like in Facebook terms.)
- The ministry has introduced etaxBC; this will allow access to details on your account and offer the ability to make changes such as updating address information.
PST has several webinars and seminars as well as videos to help with the transition. The Tri-City Chamber of Commerce is holding a session Feb 28; you must pre-register for this event. I recommend taking advantage of the one-on-one consultations with a PST Specialist. Simply fill out the online request form. Why pay an accountant to go over this with you when the ministry will do it for free?
For existing clients, please let us know when you have registered for PST and provide us with your new 11 digit number – PST 12345 678. We will also want to know your filing frequency (Monthly, Quarterly, Semi-Annually, or Annually).