How often do you file PST?

Your reporting frequency is determined at the time of registration and is generally based on how much PST you are estimated to collect per reporting period on sales and leases in BC. Reporting periods may be monthly, quarterly, semi-annual or annual.

How much is PST commission in BC?

If you are registered for PST and report and pay on time, you are entitled to receive a commission of up to $198 per reporting period. The amount of commission you’re entitled to is calculated on your PST return. If you have more than one PST account, you may claim commission for only one account.

Does BC have magazine PST?

The following exemptions are available to everyone and don’t require any documentation: Food for human consumption (e.g. basic groceries and prepared food such as restaurant meals) Books, newspapers and magazines.

How do I file a PST in BC?

If you’re a PST registered business that has an eTaxBC account, you can file PST returns and pay PST using the eTaxBC online system. eTaxBC is the easiest and fastest way to file your PST returns and pay your taxes. Learn more about creating an eTaxBC account.

What does a B.C. PST number look like?

When you register, you’re assigned a PST number. Your PST number is 11 characters long and is in this format: PST-1234-5678.

What is the PST commission?

The “commission” (discount) is received for filing and paying in full each month. It is essentially like a thank you from the government for collecting and remitting on time.

What is GST and PST charged on in BC?

Sales Taxes in British Columbia British Columbia is one of the provinces in Canada that charges separate 7% Provincial Sales Tax (PST) and 5% federal Goods and Services Tax (GST). Most goods and services are charged both taxes, with a number of exceptions.

What does a BC PST number look like?

What do you pay GST and PST on in BC?

Can you write off PST?

When you did your bookkeeping, you would have included PST in the cost of any item you purchased thereby expensing it as it is a legitimate cost of doing business. When you prepare your T2125, you can include the PST paid which means you don’t have to adjust your figures from your income statement.