British Columbia has launched the online application process for the B.C. PST Rebate on Select Machinery and Equipment, and updated its webpage supporting this rebate to explain the application process. The province introduced this rebate to help businesses recover from the financial effects of COVID-19. Under this temporary program, corporations may recover any PST paid between September 17, 2020 and September 30, 2021 on the acquisition of qualifying machinery and equipment.
Qualifying entities will be permitted to file up to two rebate claims under this program and the online application process will close on March 31, 2022. Rebate applications may be filed either through a taxpayer’s eTaxBC account or, for persons without an eTaxBC account, via an online application portal.
The rebate application must be completed by a person who has signing authority for the corporation. In addition, the following information will generally be required to complete the application:
- The applicant’s Certification of Incorporation (the rebate is only available to incorporated entities);
- A list of eligible amounts by Capital Cost Allowance (CCA) class;
- Invoices, receipts, Vehicle Identification Numbers (for any qualifying zero-emission vehicles), and proof of PST paid for each qualifying item included in the application; and
- The corporation’s Canadian banking information, if eligible for direct deposit.
Further details on the eligibility for this rebate may be found on the Ryan News & Insights webpage under Tax Alert | British Columbia Releases Economic Recovery Plan. If you have any questions about the application process or your organization’s eligibility for the rebate, please do not hesitate to contact the Ryan TaxDirect® line.