The B.C. Government is delivering financial relief for individuals and businesses dealing with the impact of COVID-19. Part of this support involves changing and deferring how provincial taxes are collected.
This section contains information on changes and deferrals to provincial taxes as a result of the COVID-19 pandemic.
Tax Changes for Businesses
Provincial Business Taxes: Businesses with a payroll over $500,000 can defer their employer health tax payments until Sept. 30, 2020. Businesses with a payroll under this threshold are already exempt from the tax. Provincial business tax filing and payment deadlines have also been extended until Sept. 30, 2020 for:
- provincial sales tax (PST);
- municipal and regional district tax;
- tobacco tax;
- motor fuel tax; and
- carbon tax.
The scheduled April 1, 2020 increase to the provincial carbon tax, as well as the new PST
registration requirements on e-commerce and the implementation of PST on sweetened
carbonated drinks, will be delayed with timing to be reviewed by Sept. 30, 2020.
Reduced School Tax Rates for Businesses: School tax rates for commercial properties (Classes 4, 5 and 6) will be reduced by 50% for the 2020 tax year.
Tax Changes for Individuals
Enhanced B.C. Climate Action Tax Credit: The Province of BC is increasing and expanding the BC Climate Action Tax Credit in July 2020. Eligible families of four will receive up to $564 and eligible individuals will receive up to $218 in an enhanced payment. If you are eligible for the Climate Action Tax Credit, you will receive the payment from the Canada Revenue Agency.