January 7, 2013 BC Chamber Public Affairs Update

The PST taxation rate will be seven per cent on most goods and services bought and sold in BC, but alcohol, accommodation, and the sale of some vehicles, boats and planes will be taxed at higher rates. The GST taxation rate will be five per cent, where it applies.

BC businesses need to ensure that they are informed and prepared to return to the PST as a recent poll by the BC Chamber has indicated that 63% of BC businesses are not prepared for the transition, and 62% are not aware of the changes that have been made to the PST.

The provincial government has set up www.pstinbc.ca to provide information to businesses.  There are many resources available such as webinars and free consultations.  Additionally, the BC Chamber has a short overview and resource page available online.

The construction sector continues to experience steady growth, showing strong gains of 14,800 jobs last month. Other areas of job growth include educational services (+12,000 jobs) and wholesale and retail trade (+6,900).

Since December 2011, BC has added 19,400 jobs as a result of a gain of 30,800 full-time positions combined with a loss of 11,400 part-time positions. With 19,400 job gains since December 2011, BC ranks fourth compared to other provinces, behind Quebec (+138,000 jobs), Ontario (+100,300 jobs) and Alberta (+31,800 jobs).

The online survey of 1,012 Canadian adults also found that if Justin Trudeau was leader of the federal Liberal Party, the party would garner the backing of 42 percent of decided voters.

This weekly report produced for the BC Chamber of Commerce by Fleishman-Hillard.  While every effort has been made to ensure the accuracy of the information included in this publication as of the date of issue, events and government policies are subject to frequent change.  Therefore, the BC Chamber of Commerce and Fleishman-Hillard cannot assume any responsibility for actions taken solely or principally on the basis on the information contained herein.