BC Extends PST Refund for Businesses on Select Machinery and Equipment

EIN 57 BC logo 400

October 1, 2021

A StrongerBC program that refunds businesses the PST paid on select machinery and equipment will be extended for an additional six months.

This extension will give businesses another chance to reduce costs and make new investments to adapt to the changes the pandemic has required, and to set them up to take advantage of future opportunities.

“When we consulted with the business community on our StrongerBC Economic Recovery Plan, they told us a PST rebate would help them make the kind of capital investments that would not just be about short-term recovery, but also long-term growth,” said Selina Robinson. “As the program deadline approaches, we see there is still a need, so we are extending the program to give more businesses time to apply.”

Businesses will have until March 31, 2022 – an additional six months – to purchase qualifying items like tools, furniture, computers, software and zero-emission vehicles and charging equipment.

Little Falls Foods in Okanagan Falls is one of thousands of B.C. businesses that have already benefited from the program. Dahlia Millington and her husband Derek opened the business this summer after the community of 2,500 had gone without a grocery store for years.

“This rebate helped us set up our business,” said Millington. “We were able to get the PST back on everything from our refrigeration equipment to the computers we use to monitor our inventory. That money, in turn, has helped us get food to seniors, to keep staff employed and continued to keep our community fed. This extra little bit really helps.”

Almost 2,000 businesses have received millions in rebates on more than $100 million in qualifying equipment and machinery so far, with most applications still expected in the coming months.

Most applicants are small and medium-sized businesses. The construction industry is the largest recipient by sector, followed by the transportation and retail sectors.

“This is not just about COVID recovery. It’s also about setting up B.C. for success and growth in the future. Little Falls Foods is a great example of that. The rebate is supporting a new business and a keystone service in the community at the same time,” said Roly Russell, MLA for Boundary-Similkameen.

Quick Facts:

  • This funding is part of B.C.’s $10-billion COVID-19 response and recovery efforts.
  • An estimated 110,000 incorporated B.C. businesses are eligible for the rebate.
  • Rebate eligibility is based on the Capital Cost Allowance classes used under the federal income tax system.
  • The PST savings on a new zero-emission vehicle can be more than $3,000.

Go HERE for more informaiton on the program

Source

Related Articles


Latest Articles

  • Global Leadership & Local Support: GoodWe’s Commitment to Innovation and Quality

    Global Leadership & Local Support: GoodWe’s Commitment to Innovation and Quality

    June 19, 2024 GoodWe is a global PV inverter manufacturer and smart energy solution provider with nearly 5,000 employees worldwide, which has resulted in a well-established track record of over 71 GW of installations in over 100 countries and regions as of the end of 2023. A recently announced partnership with Guillevin marks their first… Read More…

  • TSBC Directive: Advertising Requirements for Licensed Contractors

    TSBC Directive: Advertising Requirements for Licensed Contractors

    June 18, 2024 This directive, published May 2, 2024, is being issued by a provincial safety manager pursuant to section 30 of the Safety Standards Act. On September 6, 2022, changes to the Safety Standards General Regulation came into effect that require licensed contractors to publish their company name and Technical Safety BC licence number… Read More…

  • TSBC Announces Adoption of BC Electrical Code, 2024 Edition

    TSBC Announces Adoption of BC Electrical Code, 2024 Edition

    June 18, 2024 Effective March 4, 2025 the Canadian Electrical Code, Part I, 26th Edition, Safety Standard for Electrical Installations, Canadian Standards Association Standard C22.1-24 is adopted as the BC Electrical Code. All electrical work subject to the BC Electrical Code must comply with the updated edition effective March 4, 2025. All code-related information bulletins… Read More…

  • Investment in Single-Family Homes Continues to Rise for April

    Investment in Single-Family Homes Continues to Rise for April

    June 14, 2024 Month over month, investment in building construction increased 4.5% to $20.4 billion in March. The residential sector was up 5.4% to $14.3 billion, while investment in the non-residential sector increased 2.3% to $6.1 billion. On a constant dollar basis (2017=100), investment in building construction increased 4.1% to $12.5 billion in March. Investment in single-family homes continues to rise Investment in… Read More…


Changing Scene

  • Local Governments Receive Grants to Speed up Delivery of Homes in B.C.

    Local Governments Receive Grants to Speed up Delivery of Homes in B.C.

    June 21, 2024 Thirty-eight local B.C. governments will soon receive a grant to create more efficient development approvals processes.  “We’re leaving no stone unturned in our work to deliver more homes for people, faster,” said Ravi Kahlon, Minister of Housing. “The Local Government Development Approvals Program was created so that local governments can improve the internal… Read More…

  • Construction of New Affordable Housing Units in Saskatoon

    Construction of New Affordable Housing Units in Saskatoon

    June 21, 2024 Individuals in low-income situations will soon have access to new affordable housing units in Saskatoon thanks to a joint investment from the governments of Canada and Saskatchewan. The Saskatchewan provincial government has announced the construction of four new affordable housing units in Saskatoon’s Riversdale neighbourhood. The new, one-storey fourplex will be owned… Read More…

  • New Programs Support Housing Development Costs in PEI

    New Programs Support Housing Development Costs in PEI

    June 21, 2024 Over $25 million in new financial support programs will help build the infrastructure needed for approximately 700 new construction-ready residential lots.  The Municipal Infrastructure Fund administered through the Federation of PEI Municipalities will provide a non-repayable grant, up to a maximum of $300,000, to developers creating lots and subdivisions within municipalities in rural PEI… Read More…

  • The Construction Industry in Quebec: Productivity Issues Go Beyond the Reforms of Act R-20

    The Construction Industry in Quebec: Productivity Issues Go Beyond the Reforms of Act R-20

    June 21, 2024 The Quebec government has just adopted the Act to modernize the construction industry, and the Centre for Productivity and Prosperity – Walter J. Somers Foundation (CPP) has now released a study concluding that these reforms will not be enough to improve the industry’s real productivity. “The construction industry is at a turning point,” explains Robert Gagné,… Read More…