Businesses prepare for return of PST on April 1

It’s only the second day of 2013, but businesses, the provincial government and consumers are preparing for the return of the GST and PST on April 1.

Starting today, businesses can register online to collect the tax. About 100,000 businesses in B.C. will be impacted.

Minister of State for Small Business Naomi Yamamoto says the provincial government has tried to make the transition as easy as possible.

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“We consulted with small business owners to see what would make the transition easier for them,” she says.

“The etaxBC registration will take 15 minutes to complete.”

However, Yamamoto says the return of the PST will result in increased costs for small businesses, which will no longer be able to claim the 12 per cent input tax credit.

The return of the PST is good news for consumers, who defeated the much-maligned HST in a province-wide referendum in 2011.

Once again, restaurant meals, gym memberships, movie tickets, haircuts and several other items will be PST exempt, and only subject to five per cent GST.