Expert Tax Accountants in Rossland

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.

Scholarships, fellowships and bursaries are reported on a T4A, yet most students pay no tax on them. A full-time student in a qualifying programme who is eligible to claim the education amount is generally exempt on amounts received for that programme. Part-time students get a limited exemption tied to tuition and required materials. Amounts paid for services performed, such as a paid assistantship, or received as a research grant are treated differently and can be taxable.

On purchases, British Columbia charges 7% provincial sales tax on top of the 5% federal GST, so 12% combined for 2026. On income, the 2026 federal brackets run 14%, 20.5%, 26%, 29% and 33%, and BC's own brackets stack on top, so your marginal rate is the federal rate plus the provincial rate for that band. BC brackets are indexed yearly, so confirm the current provincial table before relying on a combined percentage.

Yes, once you are registered, because consulting is a taxable service. A registrant charges the rate for the client's province: 13% in Ontario, 15% in New Brunswick, Newfoundland and Labrador and Prince Edward Island, 14% in Nova Scotia, and 5% GST in the western provinces and the territories, for 2026. Registration is required once taxable revenue passes $30,000 across four consecutive calendar quarters or within one quarter. Below that you may register voluntarily to claim input tax credits.

In British Columbia the 2026 rates are 5% GST and 7% PST, and each is calculated on the selling price rather than on the other tax. On a $100 sale that is $5 GST plus $7 PST, so $112 in total. The two taxes have separate registrations, returns and rules, so some goods and services are PST-exempt while still carrying GST. Only the GST paid on business inputs is recoverable as an input tax credit; PST generally is not.

For a personal vehicle, no: the GST/HST or provincial sales tax on the purchase is not deductible. For a vehicle bought by a business, a GST/HST registrant normally recovers the federal portion as an input tax credit rather than a deduction, and provincial sales tax that cannot be recovered forms part of the vehicle's cost for depreciation. Where use is mixed, only the business share counts. Keep the bill of sale and a mileage log.

Child care paid so you could work, run a business or study is generally deductible, and it normally has to be claimed by the lower-income spouse. Eligible costs include daycare, a nanny, day camps and some overnight camp or boarding school fees. The amount is capped per child by the child's age and by a share of earned income; the current limits are on the CRA's child care expenses page. Keep receipts showing the provider's name and, for an individual caregiver, their SIN.

No. In Canada severance, pay in lieu of notice and a retiring allowance are fully taxable in the year you receive them. There is no tax-free slice of a redundancy payment the way some other countries allow, and tax is withheld before payment. A direct transfer to an RRSP is available only for older years of service under a narrow rule, so your ordinary RRSP room is usually the only shelter. Have settlement wording reviewed before you sign.

Slips issued to you, including T5s, appear under tax information slips in CRA My Account once the issuer files them, usually by early March for the prior year. You can also pull them into most certified software with Auto-fill my return. A slip that has not been filed yet will not show, so report the income from your own records if you know the amount. Missing a slip does not excuse leaving the income off.

Richmond has no municipal empty homes tax of its own, that levy is Vancouver's. Richmond property is instead inside British Columbia's provincial speculation and vacancy tax area, so owners there receive an annual declaration and pay if the home sits empty without an exemption. Rates and exemptions change, so confirm the current year on the province's speculation and vacancy tax pages before you rely on a figure.

Check CRA My Account or the CRA mobile app first, since most refund questions are answered there without a call at all. If the refund is past the normal processing time, telephone the CRA individual tax enquiries line, whose number is published on canada.ca, with your social insurance number, date of birth and a figure from a recent return to hand. A representative you have authorised can call on your behalf.

Yes. Income tax on tips works the same across Canada: gratuities are income and go on your T1, with federal tax plus British Columbia's provincial rates applied to your total. There is no separate BC tip tax and no exemption for cash. Controlled tips your employer distributes appear on your T4; direct tips do not, so log them daily and report the total. GST is not charged on a voluntary tip.