BC extending PST refund for businesses until the spring

Businesses in British Columbia will have another six months to buy machinery and equipment without having to pay the PST.

The Province announced today that the StrongerBC program that refunds businesses the PST paid on certain investments like that will be extended for six months.

"When we consulted with the business community on our StrongerBC Economic Recovery Plan, they told us a PST rebate would help them make the kind of capital investments that would not just be about short-term recovery, but also long-term growth," said Selina Robinson, minister of finance.

"As the program deadline approaches, we see there is still a need, so we are extending the program to give more businesses time to apply."

Now, businesses will have until March 31, 2022, to purchase qualifying items like tools, furniture, computers, software, zero-emission vehicles and charging equipment.

The government says nearly 2,000 businesses have already taken advantage of the program, including Little Falls Food in Okanagan Falls.

It’s a new grocery store that was opened by Dahlia Millington and her husband Derek this summer after the community of 2,500 went without a grocery store for years.

Millington says the rebate helped them set up their business.

"We were able to get the PST back on everything from our refrigeration equipment to the computers we use to monitor our inventory,” she explained.

“That money, in turn, has helped us get food to seniors, to keep staff employed and continued to keep our community fed. This extra little bit really helps."

According to the Province, the program has doled out millions in rebates on more than $100 million in qualifying equipment and machinery so far.

Most applicants are small- and medium-sized businesses, with the largest recipient being the construction industry, followed by the transportation and retail sectors.