News and Insights

British Columbia Updates Bulletin on Trusts

Tax Development Dec 06, 2016

British Columbia has revised Bulletin PST 318, “Trusts” to clarify the requirement for the beneficiary of a bare trust to register and collect PST where the trust sells or leases taxable assets in the ordinary course of business.  In addition, the trustee must collect PST under the beneficiary’s PST account where the trustee sells or leases taxable assets from the trust.