Eligible corporations are reminded that they have until March 31, 2022 to purchase qualifying machinery and equipment and receive a rebate equal to the British Columbia PST they paid. Under this temporary rebate, corporations must purchase the qualifying goods and pay the PST by March 31, 2022, among other conditions. Note that British Columbia has confirmed that PST invoiced before March 31, 2022, but paid after that date will not qualify for the rebate. Eligible corporations must ensure that the province receives their rebate application by September 30, 2022.
British Columbia first introduced the temporary rebate to help corporations recover financially from COVID-19.
For more information, contact your KPMG adviser.
Information is current to March 21, 2022. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500
