
Fin 492 2013-2025 Form
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People also ask
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Do services charge PST in BC?
Yes, you must charge PST on all taxable goods and services you sell in B.C., unless a specific exemption applies. There are no general exemptions that apply if you sell goods or services in B.C. to customers that live outside B.C. (e.g. tourists).
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What services are exempt from PST in BC?
Exempt services, including: Boosting of a motor vehicle battery, other than recharging. Cleaning services, unless provided with taxable related services. Courier and mail services. Cutting goods in certain situations if no other related service (other than a related service that is exempt from PST) is provided to the goods.
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Is PST charged on construction services in BC?
PST applies to taxable goods used to fulfil a contract in B.C. Contractors include builders, carpenters, electricians, plumbers, painters, landscapers and anyone else who installs goods that become part of buildings or land.
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What is exempt from PST in BC?
The following exemptions are available to everyone and don't require any documentation: Food for human consumption (e.g. basic groceries and prepared food such as restaurant meals) Books, newspapers and magazines. Children-sized clothing.
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What is the fin 48?
FIN 48 (mostly codified at ASC 740-10) is an official interpretation of United States accounting rules that requires businesses to analyze and disclose income tax risks. It was effective in 2007 for publicly traded entities, and is now effective for all entities adhering to US GAAP.
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Is there PST on Legal services in BC?
Services provided by a person to that person's employer in the course of employment are not legal services for PST purposes. Legal services provided in B.C. to a person who resides, ordinarily resides or carries on business in B.C. are subject to PST, unless a specific exemption applies.
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