BC PST Rebate Reminder (March 31, 2022)

Is your business planning any purchases or leases of tangible assets in BC?

If there will be BC PST charged, consider ordering, being invoiced and paying for them by the end of this month, March 31, to recover the PST if they are eligible assets.

Purchases and leases for most tangible assets qualify as long as they are invoiced and paid for by the March 31, 2022 deadline. We’ve outlined key information below, but you can visit the Government of B.C. page for more details.

Qualifying period

PST paid between September 17, 2020 and March 31, 2022 on eligible property (owned or leased).

General qualifications

Most non-consumable goods used in a business qualify for the rebate. To qualify, the goods must be:

• Described by the definitions found in Schedule II to the federal income tax regulations, as they read on September 1, 2020, for CCA classes 8, 10, 12, 16, 38, 43, 43.1, 43.2, 46, 50, 53, 54, and 55. This includes furniture, software, hardware, network equipment, etc. View the full list here
• Used in B.C. and obtained substantially for the purpose of gaining or producing income
• Not listed as excluded here

What does not qualify?

The following goods do not qualify for the rebate:

• Boats and vehicles (including trailers), other than zero-emission vehicles
• Consumables, disposable items, real property
• Goods purchased to be installed as an improvement to real property (other than affixed machinery)
• Goods purchased for resale by a small seller
• Exclusive products purchased by independent sales contractors

How to apply

Apply through your eTaxBC account, or through https://www.etax.gov.bc.ca/btp/eservices/ if you don’t have an account.

• You may only submit a claim for purchases and leases made between September 17, 2020 and March 31, 2022; however, there are three application periods so that you don’t have to wait until after March 31, 2022 to submit them all
• You can submit a single application between April 1, 2021 and September 30, 2021, a second application between October 1, 2021 and March 31, 2022, and a third application between April 1, 2022 and September 30, 2022
• If you didn’t submit an application during the first application period, you can submit up to 2 applications in the second application period. If you didn’t submit any applications during the first two application periods, you can submit up to 3 applications during the third application period

You have until September 30, 2022 to apply but only March 31, 2022 to be invoiced and pay to recover the PST.