Grab your calendar and get ready to mark down some important deadlines before year end. Costs that were deferred during the pandemic are coming due. In addition, several taxes or tax policies are changing in the new year. Below is a list of dates and deadlines that may be relevant to your business – take a look, and don’t forget to note down any that apply to your business.
Employer Health Tax payments: The deadline to pay EHT installments in 2020 were deferred. Below is an outline of when the upcoming deadlines are.
- First instalment - December 31, 2020
- Second instalment - January 31, 2021
- Third instalment - February 28, 2021
The remaining tax payable is due with the employer health tax return by March 31, 2021. For more detail, visit the BC Government Website by clicking here.
Coming up in 2021….
Carbonated beverages: PST on carbonated beverages that contain sugar, natural or artificial sweeteners will come into effect on April 1, 2021
PST registration: Canadian sellers of goods and Canadian foreign sellers of software and telecommunication services will be required to register to collect PST if specified BC revenues exceed $10,000
PST registration: vapour products: All Canadian sellers of vapour products will be required to register to collect PST if they sell/deliver vapour products to BC purchasers.
Carbon tax: The BC carbon tax increase will increase to $45/tCO2e on March 31, 2021.