BC should remove PST from business inputs: CFIB
Posted April 11, 2013 8:14 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – There’s a call for the next BC government to remove the provincial sales tax from business purchases of machinery, equipment and information technology.
Canadian Federation of Independent Business Executive VP Laura Jones says BC companies pay Canada’s highest effective tax rate on new investments because of the PST.
“It discourages business from buying the tools and equipment and technology — the software and computers that help them produce more, but also help their employees earn more,” she argues.
Jones wants to see changes as soon as BC has a balanced budget. “While we recognize PST became a political issue primarily, it’s imperative that whoever governs BC fixes this tax.”
Jones says removing the PST from such inputs would cost Victoria about half a billion dollars a year, and so the CFIB would not want it to happen until the budget is balanced.
