2023 BC Budget 

Tax Highlights

Frédéric Pansieri
Article
| 3/4/2023

On Tuesday February 28, 2023, B.C. Finance Minister Katrine Conroy, released Budget 2023: Stronger Together Strategic Plan. Premier David Eby will invest over $4 billion over the next fiscal year to expand health and mental-health services, create more affordable housing, and focus on growing a clean economy. The 2023 budget outlines the province’s plans to address affordability concerns and the possibility of an economic downturn worldwide, particularly addressing British Columbians most impacted by global inflation.

Below is a brief summary of the announcements relating to the provincial sales tax.

BC PST and February 28, 2023 Budget

The provincial government of British Columbia announced its 2023 budget on February 28, 2023. Some of those changes will apply to the provincial sales tax:

 

1. Exemption for automated external defibrillators introduced

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Effective March 1, 2023, automated external defibrillators (AEDs) are exempt from PST. Kits containing AEDs, and parts and services for AEDs, including pads, are also exempt from PST.

 

 

2. Rules for online marketplace facilitators and online marketplace services clarified 

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Effective July 1, 2023, the rules regarding the collection obligations of online marketplace facilitators and taxation of online marketplace services will be amended.

These changes will clarify how to apply the rules and make it easier for businesses to meet their PST obligations. More information regarding the details of these changes will be available in the near future.

 

To understand how these changes will impact your personal and business affairs, schedule a consultation with a Crowe Soberman advisor.

This article has been prepared for the general information of our clients. Please note that this publication should not be considered a substitute for personalized advice related to your situation.

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Frederic Pansieri
Frédéric Pansieri
Partner, Commodity Tax
Frédéric Pansieri Professional Corporation