PST Exemptions on Renewable Energy Now in Effect in BC

VANCOUVER, British Columbia - April 4, 2013 - PRLog -- Vancouver, BC - Renewable Energy is now a little cheaper thanks to the return of the provincial sales tax system. As of April 1, 2013, there will be no PST on solar hot water, solar photovoltaic (electric) wind electric and micro-hydro systems as outlined in the "energy conservation" category of the PST exemption list from the provincial government.
This means that instead of the 12% HST tax that was currently incrued on these systems, they will now be 7% less, with only a 5% GST tax applied. For example, a $6,800 solar hot water system, which is a typical cost of a one collector system for a household of three or less, would have included an HST tax of $816. This system will include only $340 in tax, which means a savings of almost $500!

During the summer of 2011, BC residents participated in a province-wide referendum on the harmonized sales tax (HST) and voted in favour of eliminating the HST and returning to the provincial sales tax (PST) plus federal goods and services tax (GST) system.

A complete list of PST exemptions can be found on the Provincial Government website (http://www2.gov.bc.ca/gov/topic.page?id=78521DE3BD5D46C9A...).

For more information on renewable energy contact Terratek: 1-877-335-1415, info@terratek.ca or www.terratek.ca.

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Terratek Energy Solutions Inc. is a leading renewable energy services contractor in Southwest BC, specializing in the design, sales and installation of solar hot water, solar photovoltaic, wind electric, geothermal, electric vehicle charging stations and energy monitoring solutions.