B.C. Provincial budget tax changes
As announced in British Columbia’s Budget 2022, BC Provinical Government is notifying businesses, effective April 1, 2022, the PST rate on the purchase or lease price of fossil fuel combustion systems will increase from 7% to 12%. In addition, effective April 1, 2022, heat pumps will be exempt from PST.
If you sell fossil fuel combustion systems, ensure your point-of-sale systems are updated to charge the increased rate of 12%, effective April 1, 2022.
The BC Government is asking for assistance in notifying members and clients of these changes.
For more information, see Notice 2022-003 Provincial Sales Tax on Fossil Fuel Combustion Systems and Heat Pumps.
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