The government has released the draft consolidation of the Provincial Sales Tax Act (the Act) that takes effect April 1, 2013, subject to approval of the provincial legislature. This draft is a consolidation of the Act, as passed in May 2012, along with draft proposed amendments that will be introduced in the upcoming session of the Legislature.
The draft proposed amendments provide the transitional rules for transactions that straddle April 1, 2013 and make a number of clarifications and improvements to the Act to ensure the PST is substantially re-implemented as it was prior to harmonization.
The province has indicated that the much anticipated draft regulations will be released with or before the introduction of the amendments to the Legislature.
Ryan will be providing further details on these amendments in the coming days.
For more information about the draft consolidation, please see the link below and The Basics section of the province’s Frequently Asked Questions web page.