Canada: Reminder of 31 March deadline, sales tax rebate for machinery and equipment (British Columbia)

Corporations must purchase the qualifying goods and pay the PST by 31 March 2022.

Corporations must purchase the qualifying goods and pay the PST by 31 March 2022.

Eligible corporations have until 31 March 2022 to purchase qualifying machinery and equipment and receive a rebate equal to the amount of British Columbia provincial sales tax (PST) paid.

The PST rebate deadline for purchasing machinery and equipment was extended in October 2021 as a response to the coronavirus (COVID-19) pandemic. Read TaxNewsFlash

Under this temporary rebate, corporations must purchase the qualifying goods and pay the PST by 31 March 2022 (among other conditions).

Officials in British Columbia confirmed that PST invoiced before 31 March 2022 but paid after that date will not qualify for the rebate.

Eligible corporations must determine that the province receives the rebate application by 30 September 2022.

Read a March 2022 report prepared by the KPMG member firm in Canada

 

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