On April 1, 2013 businesses across BC will once again begin collecting and remitting the Provincial Sales Tax (PST). The BC Government has announced that the PST will come back into legislation in the exact same format as it left three years prior. While the small business community has mixed feelings regarding the return to PST, it is coming back and most businesses will be affected.
Premier Christy Clark has acted on her vow to add another statutory holiday in BC. Family Day is scheduled to take effect in February 2013. BC business owners will end up paying most of the bill for this new holiday. CFIB has estimated the average cost to a small business with fewer than five employees to be $1,135.
BC's Budget unveiled on February 21st was a mixed bag for our small- and medium-sized businesses (SMEs). While there was some positive movement on deficit reduction there is also the unwelcome spectre of corporate tax increases and failing to honour the commitment to eliminate the small business tax rate.
In response to the growing concern from BC's small business owners regarding local government spending, and to the work done by CFIB, the BC government has introduced legislation creating the Office of the Auditor General for Local Government. This is a major victory for BC's small businesses.
