Finance
HST and its effect on WPCG Consultants
As you are aware, there is pending HST legislation that will see British Columbia merge both the Provincial Sales Tax (7%) and the Goods and Services Tax (5%) effective July 1, 2010.
Those with GST numbers will be automatically migrated to the HST register.
There will be very little impact as to how the consultant issues invoices to WPCG except the transitional period whereby your billing period straddles the July 1 implementation date. For those currently sending invoices to WPCG on a biweekly or monthly basis, HST (12%) must be charged for days serviced on or after July 1 unless 90% or more of the work is performed before July 1, 2010.
Should you require further information on this, please contact Charles Carr at ccarr@wpcg.ca or 604-294-1200 ext 119 or if you require further technical information on the HST, please refer to links below:
General information about HST
http://www.cra-arc.gc.ca/gncy/hrmnztn/bc/menu-eng.html
CRA notice on transactions that straddle the July 1, 2010 HST implementation date
http://www.cra-arc.gc.ca/E/pub/gi/notice247/notice247-e.pdf
CRA notice on new HST reporting requirements, effective July 1, 2010
http://www.cra-arc.gc.ca/E/pub/gi/notice249/notice249-e.pdf