Prince Edward Island (“PEI”) has posted a PowerPoint presentation outlining the key elements of the transitional rules pertaining to the change from the Provincial Sales Tax to the Harmonized Sales Tax, which will take effect on April 1, 2013. The presentation is a summary of the details provided in Revenue Tax Guide RTG: 185, "Implementation of the Harmonized Sales Tax in Prince Edward Island”, issued on November 8, 2012. A few new details are of note in the presentation:
- The statement that any applicable PST not otherwise payable on or before July 31, 2013, will become payable on July 31, 2013. This is complementary to previous information indicating that all supplemental PST vendor returns are to be filed by August 20, 2013.
- The division of Taxation and Property Records will be handling refunds for PST on goods that are returned after July 31, 2013. Prorate revenue tax will no longer apply to multi-jurisdictional vehicles after March 31, 2013 and the exemption from PST on the purchase of trailers, parts and repairs will no longer be available after March 31, 2013.
- Retail Sales Tax will continue to apply at a rate of 14% on the sale of designated property (including vehicles, boats and airplanes) when the seller is not registered for GST/HST.
Please see the link below for a copy of the presentation: