What is the BC PST rebate on qualifying machinery and equipment?
To help BC corporations with recovery from COVID-19, the provincial government has implemented a PST rebate on qualifying machinery and equipment. The PST paid on this equipment is eligible for a full rebate. Qualifying assets must have been purchased between September 17, 2020, and March 31, 2022.
There are exclusions to types of businesses that can apply for the rebate. Ie. Unincorporated businesses, crown corporations, government corporations, charities, non-profits, schools, hospitals, etc.
Qualifying machinery and equipment:
For additional details about BC’s PST Rebate on Select Machinery and Equipment, please click here.
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Canadian and foreign tax laws are complex and have a tendency to change on a frequent basis. As such, the content published above is believed to be accurate as of the date of this post. Before implementing any tax planning, please seek professional advice from a qualified tax professional. Empire, Chartered Professional Accountants will not accept any liability for any tax ramifications that may result from acting based on the information contained above.