The province of British Columbia (“BC”) has issued two new notices and one new bulletin addressing specific application of the PST to Vehicles, Real Property Contractors and Special Occasion Liquor Licences.
Notice 2013-002, “PST on Vehicles” looks at the circumstances in which the PST will apply to vehicles, including the transitional rules, exemptions, documentation and payment procedure. It also details what rate of PST will apply in certain situations, listing the tiered rates that are based on the purchase price of the vehicle as follows:
Taxable Value PST Rate
Less than $55,000 7%
$55,000 - $55,999.99 8%
$56,000 - $56,999.99 9%
$57,000 and over 10%
Notice 2013-003, “Real Property Contractors” provides some discussion on the definitions important to this group and outlines the general rule, as well as the exemptions and the transitional rules that specifically pertain to this industry. Finally,
Bulletin PST 300, “Special Occasion Liquor Licences” was issued to address the transitional rules for PST payable, related to liquor sold under a Special Occasion Liquor Licence. The bulletin provides details on the calculations required to determine the amount payable and contains various examples to illustrate those calculations.