COVID-19 Updates: Provincial Tax & Revenue Changes

this information is updated regularly and provided by BC Government | photo credits: GGFL

The B.C. government is bringing financial relief for people and businesses as we address the effects of COVID-19. 

This page contains updates to provincial tax and revenue changes and will be updated as information becomes available. Subscribe to our blog to stay informed.

To keep you informed of recent developments in our federal and provincial/territorial governments’ economic response to COVID-19, we will be providing you updates of key government announcements that may impact you or your business.

British Columbia – Applications for BC Emergency Benefit for Workers (BCEBW) open: Applications for the $1,000 BCEBW are open as of May 1, 2020.

British Columbia: Online applications open for B.C. Emergency Benefit for Workers (May 1, 2020)

Application for B.C. Emergency Benefit for Workers

You can apply now for the B.C. Emergency Benefit for Workers, a tax-free, one time $1,000 payment for B.C. residents whose ability to work has been affected due to COVID-19. 

Find out if you’re eligible, what you need to apply, and how to applyUpdated May 1, 2020

Deferred Tax Payments

Effective immediately, B.C. is extending filing and payment deadlines for the following taxes.

Employer Health Tax

Logging Tax

Sales Taxes

  • Provincial sales tax (including municipal and regional district tax*)
  • Carbon tax
  • Motor fuel tax
  • Tobacco tax

See Notice 2020-002, COVID-19 Sales Tax Changes for more information. Updated April 22, 2020

*Municipal and regional district tax (MRDT) is the additional 2 or 3% tax on accommodation

Delayed PST Budget 2020 Tax Changes

The following tax changes announced in Budget 2020 will be postponed until further notice:

  • Eliminating the PST exemption for carbonated beverages that contain sugar, natural sweeteners or artificial sweeteners
  • Expanded registration requirements for Canadian sellers of goods, along with Canadian and foreign sellers of software and telecommunication services

Delayed Carbon Tax Increase

Carbon tax rates will remain at their current levels until further notice. The tax measure announced in Budget 2020 aligning the carbon tax rates with the federal carbon pricing backstop is also postponed until further notice.

See Notice 2020-002, COVID-19 Sales Tax Changes for more information. 

Reduced School Tax Rates for Businesses

School tax rates for commercial properties are reduced for the 2020 tax year.

On April 16, 2020, the school property tax was lowered again and classes 7 and 8 are now included. Overall, the commercial property tax bill for most businesses will be reduced by 25% on average.

Late payment penalties for classes 4, 5, 6, 7 and 8 are postponed to October 1, 2020. 

Support for Local Governments

Support for local governments so they can meet their operational costs and required remittances to regional districts, regional hospital districts, TransLink and transit authorities, BC Assessment, the Municipal Finance Authority and other taxing authorities.

  • Authorized to borrow, interest-free, from their existing capital reserves to help pay for operating expenses, such as employee salaries
  • Provincial school tax remittances are delayed until the end of the year
  • Greater flexibility to carry debt for an additional year

Enhanced B.C. Climate Action Tax Credit

An additional one-time payment will be made in July 2020 on top of the regular climate action tax credit amount for qualifying individuals and families. New page March 31, 2020

The previously scheduled credit increase effective July 2020 remains the same.

Suspended Debt Collection

Most debt collection activities are suspended until further notice. If you need help with arranging flexible payment options or with your account, staff are available to assist you.

To contact us or for information on payment options, refer to your Statement of Account.

By | 2020-05-04T09:10:52-08:00 May 1st, 2020|Blog|0 Comments

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