Most households have seen an increase in how much they are paying in sales taxes under the HST. The Independent Panel on the HST estimates that families are paying, on average, an additional $350 in sales tax annually under the 12 per cent HST. Additional measures have been put in place to reduce the impact of the HST on British Columbians.
The basic personal income tax exemption was increased for all British Columbians. This lowers personal income taxes by up to about $80 for individuals and by up to $160 for couples.
Analysis conducted by the Independent Panel, prior to the government announcement to lower the HST rate, showed that the 15 per cent of families earning less than $10,000 annually– will benefit under the HST as a result of the B.C. HST Credit they receive in the mail.
Returning to PST
- The Government is working to bring back the PST as qickly as we responsibly can.
- An action plan has been established to ensure an effective and orderly transition back.
- The Independent Panel report released in May 2011 estimated it would take 18-24 months to complete the process.
- Senior Citizens
Household Goods and Services
When you’re managing your household budget every dollar counts. Here is a brief overview of household goods and services where the tax rate has increased, stayed the same or been reduced under the HST.
You can always get a more comprehensive list in our Buying Goods section, the printable Quick Reference Guide or find more information about the HST at the Canada Revenue Agency.
Learn more About HTC to PST
The PST will be reinstated effective April 1, 2013.
Will the PST be re-implemented at 7%?
British Columbia’s provincial sales tax (PST) will be re-implemented effective April 1, 2013 at a general tax rate of seven per cent
Will all permanent PST exemptions return?
The PST will apply to the same goods and services that were subject to PST prior to the implementation of the HST. All permanent PST exemptions will be re-implemented with the new PST.