2014 Budget tax changes
On February 18, 2014, the government announced proposed changes to the provincial tax laws.
Read a summary explanation of the tax changes in the Budget and Fiscal Plan.
Changes were introduced for:
Learn more about each tax change using the sources below.
Liquefied natural gas (LNG) income tax update
- Liquefied natural gas income tax
Provincial sales tax
Exemption for settler’s effects expanded
Purchase price of accommodation sold with meals and services for a single price clarified
Multijurisdictional vehicle exit tax clarified
Technical changes made for clarity and certainty
- Boats (Bulletin PST 108) (PDF)
- Energy and Energy Conservation (Bulletin PST 203) (PDF)
- Exemptions for First Nations (Bulletin PST 314) (PDF)
- Farmers (Bulletin PST 101) (PDF)
- Legal Services (Bulletin PST 106) (PDF)
- Motor Vehicle Dealers and Leasing Companies (Bulletin PST 116) (PDF)
- Partnerships (Bulletin PST 319) (PDF)
- Production Machinery and Equipment Exemption (Bulletin PST 110) (PDF)
- PST Exemptions and Documentation Requirements (Bulletin PST 200) (PDF)
- PST on Vehicles (Bulletin PST 308) (PDF)
- Related Services (Bulletin PST 301) (PDF)
- Rentals and Leases of Goods (Bulletin PST 315) (PDF)
- School Supplies (Bulletin PST 202) (PDF)
- Small Sellers (Bulletin PST 003) (PDF)
- Software (Bulletin PST 105) (PDF)
- Telecommunication Services (Bulletin PST 107) (PDF)
- Thrift Stores, Service Clubs, Charitable Organizations and Societies (Bulletin PST 304) (PDF)
Tobacco tax rates increased
- Notice to Tobacco Retail Dealers and Wholesale Dealers - Tobacco Tax Rate Increase (PDF)
Corporate income tax
Film and television tax credit – distant location tax credit expanded
Preferential treatment for credit unions phased out
The preferential treatment for credit unions will be phased out over five years beginning for tax years that include January 1, 2016. The preferential treatment will be reduced to 80% for 2016, 60% for 2017, 40% for 2018, 20% for 2019, and 0% for 2020 and later years.
Credit unions will continue to receive the small business rate of 2.5% on income that is attributable to a small business.