ICBC Update- Upcoming Changes to HST

CAOT-BC has received the following message from ICBC for distribution to CAOT-BC members:

The Government of British Columbia has announced that it will reinstate the PST and GST effective April 1, 2013. This has implications for the Insurance Corporation of British Columbia (ICBC) and its suppliers.

ICBC currently pays the Harmonized Sales Tax (HST) on all taxable goods and services. Effective April 1, 2013, ICBC will be subject to the PST (7%) and GST (5%) on taxable goods and services. 

As a supplier of goods and/or services to ICBC, it is your responsibility to determine if the services and/or goods that you supply to ICBC are subject to the PST/GST and to invoice accordingly. ICBC is not able to provide advice in this regard.

CAOT-BC members who are ICBC service providers may receive a letter directly from ICBC regarding the PST/GST.

If you require information about the PST/GST, please contact your tax professional, the Canada Revenue Agency or the Consumers Tax Branch of the Ministry of Finance.