Community

No

HST rebate for SFU

January 21, 2010

Document Tools

Print This Article

E-mail This Page

Font Size
S      M      L      XL

Related Links

SFU will receive about $8 million as a result of the B.C. government’s decision Jan. 14 to give eligible universities, public colleges and hospitals a partial rebate on the harmonized sales tax (HST). The new sales tax, which takes effect July 1, will combine the five-per-cent GST and the seven-per-cent PST into a single 12-per-cent tax. SFU will receive a 75-per-cent partial rebate of the provincial portion of the HST, which will ensure that the university will not pay any more provincial HST after harmonization than it currently pays in PST. "This is a fair and equitable method to address the transition from PST to HST," says accounting services director, Larry Guthrie. Since the HST was announced in July 2009, SFU has been working with Victoria and the Research Universities’ Council of B.C. to develop a reimbursement formula or direct supplement plan to offset the tax.

Comments

Commenting is closed
Comment Guidelines

Cody Watson

Is this a net gain for the university, or are we breaking even on this front?

Cyril Thong

SFU belongs to the provincial government. The province is bringing in the HST. SFU is being exempted/rebated to the tune of 75%. Looks like a great news item to make the government look good. What about the rest of us who have to now pay more for our utilities, services, transit and food bills?

Vivien T

I think the money received should be used as a deduction in student fees/tuition.

Kyle J

It would be a nice compromise if both federal and provincial governments lowered both taxes, making it easier on the consumer.

Search SFU News Online