BC COVID-19 Action Plan
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.
Please contact us if you have additional questions.
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.
Although every reasonable effort has been made to ensure the accuracy of the information contained in this post, no individual or organization involved in either the preparation or distribution of this post accepts any contractual, tortious, or any other form of liability for its contents or for any consequences arising from its use.
