what is the sales tax in bc canada
Sales taxes in British Columbia The sales taxes levied in the province are the separate 7% PST and 5% GST.
Capital gains tax Currently, only 50% of realized capital gains are taxable in Canada at an individual's tax rate. Some exceptions apply, such as selling one's primary residence which may be exempt from taxation.[4] Capital gains made by investments in a Tax-Free Savings Account (TFSA) are not taxed.
Sales taxes in British Columbia On 1 July 2010, the PST and GST were combined into the Harmonized Sales Tax (HST) levied according to the provisions of the GST. The conversion to HST was controversial. Popular opposition led to a referendum on the tax system, the first such referendum in the Commonwealth of Nations, resulting in the province reverting to the former PST/GST model on 1 April 2013.
Economy of New Zealand Imports â€“ commodities: machinery and equipment, vehicles and aircraft, petroleum, electronics, textiles, plastics
Generally Accepted Accounting Principles (Canada) The handbook is currently updated by a number of groups, including the AcSB for profit and not for profit organizations, the Public Sector Accounting Standards board for the public sector, and the Auditing Standards Board for the auditing sections.
Goods and services tax (Canada) On July 1, 2006, the Government of Canada reduced the tax by 1 percentage point (to 6%), as promised by the Conservative Party in the 2006 election campaign.[7][8][9] They again lowered it to 5%, effective January 1, 2008.[10] This reduction was included in the Final 2007 Budget Implementation Bill (Bill C-28),[11] which received Royal Assent on December 14, 2007. This change has been estimated to have decreased government revenues by approximately $6 billion.[12][13] Opponents of these tax decreases cited that sales taxes target those who spend more and therefore such reductions disproportionately benefit Canadians giving those who have the most and spend the most the largest tax decrease.[8]