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Beginning in 2010, British Columbia will harmonize PST and GST to create a new 12 percent HST.
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The Ontario budget proposed March 26, 2009 states that the province plans to adopt Harmonized Sales Tax on July 1, 2010.
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Change to the fairness provision of the Excise Tax Act places restrictions on taxpayers applying for relief from interest and penalties for periods before Dec. 31, 1996.
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Three Canadian provinces have unclaimed property programs: Alberta, Quebec and British Columbia.
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Forms T4A, t1204 and T5018
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Five provinces in Canada, namely British Columbia, Saskatchewan, Manitoba, Ontario and Prince Edward Island have their own tax statutes to impose a Provincial Sales Tax (PST).
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The Retail Sales Tax Act is the legal authority that provides guidelines on the application of the 7 percent RST applied to retail sales and rental of most tangible personal property and certain services in Manitoba.
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The Revenue Tax Act, administered by The Taxation and Property Records office is the legal authority that provides guidelines on the application of the Revenue Tax (PST) to purchases of taxable goods and services with in Prince Edward Island. PEI's PST rate is 10 percent and is applied after GST, making an effective tax rate of 10.7 percent (10.6 after July 1, 2006).
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The Provincial Sales Tax in Quebec is referred to as the Quebec Sales Tax (QST). Effective January 1, 1999, the majority of goods and services sold or provided in Quebec are taxable at a rate of 7.5 percent.
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The Social Service Tax Act is the legal authority that provides guidelines on application of the PST to purchases of taxable services in British Columbia. The Consumer Taxation Branch administers the PST on tangible goods. The PST rate is 7%.
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Saskatchewan's Provincial Sales Tax Act authorizes a 5 percent tax that applies to taxable goods and services consumed or used in Saskatchewan. It applies to goods and services purchased in the province as well as those imported for consumption or use within the province.
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Ontario's PST, commonly called the Retail Sales Tax, or RST, is currently at the rate of 8%. It is administered by the Ministry of Finance.
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Thursday, Sep 2 2010
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