Avisar News

BC COVID-19 Action Plan

Category Accounting, Taxation

On March 23, 2020, the BC Government announced its first steps to support people and businesses through the COVID-19 pandemic.  The full announcement can be read here. Some of the highlights are listed below.

Supporting People

  • One time tax-free $1,000 payment to British Columbians who receive Employment Insurance (EI) or the new federal Emergency Care Benefit or Emergency Support Benefit
  • Enhanced BC Climate Action Tax Credits for some families and individuals
  • Freeze on BC student loan payments for six months, starting March 30, 2020.  Federal student loan payments are frozen as well.
  • ICBC and BC Hydro extended deferrals

Supporting Businesses

Effectively immediately, BC is extending filing and payment deadlines for the following taxes until September 30, 2020:

  • Employer Health Tax (EHT)
  • Provincial Sales Tax (PST) (including municipal and regional district tax *)
  • Carbon Tax
  • Motor Fuel Tax
  • Tobacco Tax

* Municipal and regional district tax (MRDT) is the additional 2 or 3% tax on accommodation.

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Disclaimer:
Avisar Chartered Professional Accountant’s blog deals with a number of complex issues in a concise manner; it is recommended that accounting, legal or other appropriate professional advice should be sought before acting upon any of the information contained therein.

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