A provincial sales tax rebate on electric vehicle charging stations, furniture, tools, office equipment and some other building/facilities management and operations essentials has been extended for another six months in British Columbia. The 54-week COVID-19 business relief measure was due to expire on September 30, but qualifying claimants will now be eligible for a refund of the 7 per cent PST on purchases invoiced and paid for between September 17, 2020 and March 22, 2022.
“We see there is still a need, so we are extending the program to give more businesses time to apply,” advises B.C. Finance Minister Selina Robinson.
Approximately 110,000 B.C. businesses are eligible to claim the rebate and, thus far, the provincial government reports that nearly 2,000 have successfully done so — amounting to “millions in rebates on more than $100 million in qualifying equipment and machinery”. The construction sector has emerged as the largest beneficiary, followed by transportation and retail.
Under program rules, most real estate acquisitions and investments to physically improve capital assets — such as renovations, accessibility upgrades and retrofits or replacement of building infrastructure or systems — do not qualify for the rebate. However, the one exception could work nicely for investors deciding that the time is right to open a drive-in movie theatre since property purchased for that purpose is eligible.
In practical terms, it’s perhaps more likely that commercial building owners/managers would take advantage of the PST rebate on electric vehicle charging stations, electrical generating equipment, storage bins or outdoor advertising signs.
