Expert Tax Accountants in Port Alberni

Sales tax in British Columbia totals 12% for 2026: the 5% federal GST plus 7% provincial sales tax. BC is not harmonised, so the two run separately, with GST registered and filed with the CRA and PST with the province. A $100 taxable sale carries $5 GST and $7 PST. PST has its own exemptions, including most food for human consumption, so some sales take the 5% GST only.

Sales tax in British Columbia totals 12% for 2026: the 5% federal GST plus 7% provincial sales tax. Both are calculated on the pre-tax price, so they do not compound. PST has a wider list of exemptions than GST, so many receipts show only 5%, while a few items go the other way and carry a PST rate above the general 7%, liquor and passenger vehicles among them, so check the BC rate that applies to the item. Income tax is separate.

A TD1 Personal Tax Credits Return tells your employer which personal credits to build into your income tax withholding, so the right amount comes off each pay. You normally complete a federal TD1 and a provincial or territorial TD1 when you start a job. File a fresh pair whenever your situation changes, for instance a new dependant, tuition, or a second employer, where you should not claim the basic personal amount twice.

Yes. Nothing blocks filing a very late personal return, and the CRA will process a 2015 T1 that was never filed. Expect interest and a late-filing penalty on any balance owing. A refund is a different matter: the CRA's power to issue one for a year that old runs out, so read the CRA taxpayer relief page before counting on money back. Filing still matters for benefit entitlement, and unfiled years can bring an arbitrary assessment.

Start with the CRA's own learning material: its Learn about your taxes course walks a first-time filer through income, deductions, credits and filing, and the T1 guide explains each line of the return. Then read the CRA pages for your own situation, such as employment expenses or self-employment, plus your province's credits. Working through last year's return with the guide open teaches more than any summary. Ask for help before a deadline, not after.

British Columbia's property tax deferment programme is a low-interest loan from the province that pays the annual property tax on your principal residence. Eligibility is limited, broadly to older homeowners, surviving spouses, people with disabilities, and families supporting a child, and there are minimum equity and fire insurance requirements. The province registers a lien on the title and charges simple interest, and the balance falls due when the property is sold or transferred. You renew each year.

GST is 5% in Vancouver, and British Columbia adds 7% provincial sales tax, so most retail purchases carry 12% in total (2025 and 2026). There is no HST in British Columbia. The two taxes are separate, calculated on the same pre-tax price, and PST does not apply to everything GST does. Restaurant food, for example, is generally GST only, while liquor carries a higher provincial rate.

Yes. If you rent out part of the home you live in, a basement suite, a room, or a short-term listing, the rent is taxable and reported on your return, with expenses split between the rented area and your own. Renting a portion does not usually cost you the principal residence exemption, but claiming capital cost allowance on the rented part can. Keep records of the square footage and time used.

British Columbia charges 5% GST plus 7% PST (2025 and 2026), so 12% on a purchase taxable under both. They are separate taxes with separate rules: GST goes to the CRA, PST to the province, and each has its own exemptions, so many purchases carry GST only. A registered business recovers the GST through input tax credits but cannot recover the PST, which stays a cost of doing business.

British Columbia's property tax deferment programs let qualifying homeowners, including many seniors and families with children, have the province pay their annual property tax. The province charges simple interest on the deferred balance at a rate it sets and revises periodically, and it registers a lien against the title until the account is repaid. Check the current rate on the BC government's deferment page before applying, because the rate changes.

There is no automatic senior discount, but most provinces and many municipalities run relief programmes seniors can apply for. They take the form of a deferral, where the province or municipality registers a charge against the property and recovers the tax later, a rebate or credit for lower-income owners, or a cap on annual increases. Some provincial programmes are claimed with the personal tax return instead of through the city. Most are income-tested and need a fresh application each year.

All of it. No threshold lets cash go unreported: tips, side jobs, weekend work and cash sales are income the moment you earn them, and the CRA can reassess unreported amounts with penalties and interest. Keep a log of dates, amounts and payers, and deposit takings so records reconcile. Self-employed cash earnings go on Form T2125 with your T1 return; cash tips earned as an employee are employment income, not business income, and belong on the other-employment-income line of the T1 instead.