|Current Reg. Re PST exemption |
for Residential And Farm Use
By Tom Fletcher - February 21, 2017 Kamloops this week.
Finance Minister Mike de Jong has accepted the advice of a business advisory group, proposing to take the provincial sales tax off business electricity bills over the next two years. In his pre-election budget on Tuesday, Feb. 21, de Jong announced a plan to cut the PST on electricity in half effective Oct. 1, from seven per cent to 3.5. The rest would be removed on April 1, 2019. Residential and farm power bills are already exempt from PST. Municipalities, hospitals and schools pay PST on their electricity purchases and would benefit from the change.
Don Quixote Note: If the Liberals get elected and this 3.5% reduction comes into effect and does apply to Municipalities then Vernon's Municipal budget for electricity should be reduced by 3.5%. The effect on our street lights budget