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When you bring your business to our TRANSPORTATION specialists at HUB International Insurance Brokers, you receive the combined power of our vast global resources and solid local relationships. Our longstanding relationships with the best providers in the business allow us to deliver the solution that serves you best. With HUB, you can run your business knowing that you are headed in the right direction.

CBT Says BCTA MJV Tax Requests Require New Legislation

Although the short-term request for immediate multi-jurisdictional vehicle tax refunds for fleets temporarily licencing a prorate vehicle was unsuccessful, the Consumer Taxation Branch has acknowledged that the finance ministry could consider a change to the governing Provincial Sales Tax legislation.

If members can recall, back on April 9, 2015 the BC Trucking Association contacted the CTB (Consumer Taxation Branch)  to recommend that fleets be allowed to claim an MJV tax refund when temporarily cancelling a prorate licence, which could help alleviate potential cash flow problems related to paying the tax twice on the same vehicle.

Although the CTB did agree that by eliminating the waiting period for refunds, it would help with cash flow concerns for larger fleets the current legislation must first change. Under the current PST legislation, ICBC cannot issue a refund until the end of the original vehicle licence period, regardless of when you ‘unlicensed’ the vehicle. 

For more details, please see our previous post Update on MJV Tax Changes – April 12. 2015

To read the letter from the BC Trucking Assocation written to the CBT: www.bctrucking.com

 

Tia Chisholm, HUB International TRANSPORTATION

HUB International TRANSPORTATION specialists are based in Vancouver. Our longstanding relationships with the best providers in the business allow us to deliver the solution that serve you best. With HUB, you can run your business knowing that you are headed in the right direction.

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