PST Rebate on Select Machinery and Equipment
August 12th 2022
Complete Bookkeeping & Advisory Services (CBA) is a Kamloops-based professional bookkeeping service. We can help your corporation complete your application and claim your PST rebate before the deadline on October 3, 2022.
At CBA, we provide complete online bookkeeping services for small and mid-sized business owners, in Kamloops, Fort St, John, and the surrounding areas. Our scope also includes cloud-based solutions to reach you anywhere in BC. Our team is composed of highly qualified and professionally certified accountants with over 30 years of exceptional customer service.
Let our team take the frustration, worry, and stress out of managing your business's financial information and give you peace of mind. Click Here to learn more.
What is the PST Rebate?
Following the events of recent years, the BC government has announced a temporary rebate on the Provincial Sales Tax (PST) for Select Machinery and Equipment purchases. The rebate is separate from the existing PST refund process.
Under this program, corporations can apply to receive a rebate equal to the PST they paid between September 17, 2020, and March 31, 2022.
As a Kamloops bookkeeper, we can help you make an application for your tax rebate. Click Here to get started.
Who Can Apply
Most incorporated businesses are eligible to apply with some exceptions.
Corporate partners in partnerships can apply for the amount of Provincial Sales Tax they paid on their proportional ownership in the partnership. However, non-corporate partners of partnerships cannot apply.
Unincorporated entities, such as sole proprietors, cannot apply. Please note, that only equipment and machinery obtained after incorporation are eligible.
For more information about who can apply, visit the official PST Rebate site here.
What You Need to Apply
Please retain your receipts and invoices in case you are audited.
To apply for your Provincial Sales Tax rebate you will need:
1. A copy of all receipts and invoices between September 17, 2020, and March 31, 2022, with proof of the payment of PST on qualifying machinery and equipment.
2. Fill out the Rebate Purchase Schedule to ensure that only qualifying purchases and leases are included. You can find it here.
3. Receipts and invoices of PST payments
Please note to qualify for the rebate you need to ensure the PST has been paid by its due date. Late payments of PST do not qualify, even if they are made during the qualifying period.
4. Incorporation Information
In addition, you may need to attach a copy of your incorporation documents as part of your application.
5. The relevant banking information
When applying for your rebate make sure to have your business banking information available and be prepared to provide your:
• Account number
• Branch (transit) number
• Institution number
6. You will need to attach a document confirming your banking information.
This document must include:
• Your legal corporation name
• The banking institution's name or number
• The Branch (Transit) number
• Your Account Number
Please note that you may be connected for further information after you submit your application.
How to apply
Use your eTaxBC Login
If you already have an eTaxBC Login for paying your PST, then you can log on to access the rebate application.
Apply online without a Login
You have until October 3, 2022 to apply.
If you need help submitting your rebate application, Complete Bookkeeping provides professional bookkeeping assistance, at an affordable price. Click Here to contact Complete Bookkeeping & Advisory Services now!