Tax on leases in British Columbiafrom the BC Government Websites20 (1) Subject to this section and sections 20.1 and 21 (3), a lessee must pay to the government a tax as follows:(a) if the leased property is not a passenger vehicle, at the rate of 7% of the lease price of the leased property;(b) if the leased property is a passenger vehicle, at the applicable rate as follows:(i) 7% of the lease price, if the tax rate value of the passenger vehicle is less than $55 000;(ii) 8% of the lease price, if the tax rate value of the passenger vehicle is $55 000 or more but less than $56 000;(iii) 9% of the lease price, if the tax rate value of the passenger vehicle is $56 000 or more but less than $57 000;(iv) 10% of the lease price, if the tax rate value of the passenger vehicle is $57 000 or more.
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Tax on leases in British Columbia
from the BC Government Websites
20 (1) Subject to this section and sections 20.1 and 21 (3), a lessee must pay to the government a tax as follows:
(a) if the leased property is not a passenger vehicle, at the rate of 7% of the lease price of the leased property;
(b) if the leased property is a passenger vehicle, at the applicable rate as follows:
(i) 7% of the lease price, if the tax rate value of the passenger vehicle is less than $55 000;
(ii) 8% of the lease price, if the tax rate value of the passenger vehicle is $55 000 or more but less than $56 000;
(iii) 9% of the lease price, if the tax rate value of the passenger vehicle is $56 000 or more but less than $57 000;
(iv) 10% of the lease price, if the tax rate value of the passenger vehicle is $57 000 or more.
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