Ivory Planning Group Logo

May 2026

We would like to make you aware of an important upcoming change to BC Provincial Sales Tax (PST) rules that may affect both individuals and businesses beginning October 1, 2026.


The Province of British Columbia is expanding PST to certain professional services, including:

  • Accounting and bookkeeping services
  • Payroll and tax preparation services
  • Architectural services
  • Engineering and geoscience services
  • Security services
  • Certain commercial real estate and property management services


As accounting firms are included in these new rules, PST at 7% will apply to many of our professional service fees effective October 1, 2026.


What this may mean for you:

For many clients, this change will simply mean seeing PST being added to accounting and tax service invoices beginning October 1, 2026.


However, some businesses may need to take additional steps, particularly if they:

  • Provide or purchase one of the newly taxable services;
  • Have ongoing contracts, retainers, or work that spans the October 1, 2026 transition date; or
  • Operate in industries such as engineering, environmental consulting, bookkeeping, payroll, commercial real estate, or property management.


Businesses may need to review whether they are required to register for PST and charge PST on their own services. We will also be reaching out to clients who appear to be directly affected in the coming months as more definitive direction and expectations come out.


The Province is expected to release further guidance before the rules take effect, and we will continue monitoring developments closely.

Sincerely,


The Ivory Planning Group Team


View a list of our past newsletters here.

KEY DATES & DEADLINES

FOR INDIVIDUALS:

FOR BUSINESSES:

June 15th - Self Employed Personal Tax (T1) & GST Filing Deadline

If you are self employed, both you and your spouse's deadline for filing personal taxes is June 15th. If you have a GST account, your GST filing is due the same day. The same 10-day rule as above will apply to documents being submitted before the filing deadline.

*** Corporate Year End Deadlines ***

As most of you are aware; corporate tax returns are due 6 months after the company's year-end date, and amounts owing on corporate tax returns will begin accruing interest 3 months after the year end date if they are not paid (2 months for companies that do not qualify for the Small Business Deduction). We cannot guarantee on-time filing for any returns that have submitted their complete year end documents less than 45 days prior to the company's filing due date. Please keep this timeline in mind when submitting required information and responding to queries.

Disclaimer



We have included in this company update general information and commentary on financial planning, accounting, tax and wealth management topics that we think may be of interest to you. Although we do our best to provide accurate information, we cannot guarantee that what you read will be applicable to your personal situation. This update is NOT to be considered or used as financial advice, and any implementation of investment, accounting, or financial planning strategies should be discussed with your advisory team first.   

 

Please feel free to unsubscribe at any time by clicking 'unsubscribe' at the bottom of the screen.