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 PST UPDATE - INFORMATION BULLETINS RELEASED


The Ministry of Finance recently released two new information bulletins:
  • Project Registry Application Form - the Project Registry was an idea developed by the Industry Transition Committee to allow contractors to obtain official ruling of a project's qualification to fall under the "old rules".  The Registry will provide contractors some degree of protection and clarity in the case of future audit.

The Industry PST Transition Committee continues to work with the Ministry to bring forward issues for clarification.  It's a monumental job, as we are learning, with new issues cropping up almost daily.

 

We wish to provide three key pieces of advice to members to mitigate your risk moving forward:

  1. If you have a project that you believe should fall under the old rules, take the time to get it approved for the Registry.
  2. Never assume anything.  When in doubt, make sure you get a written ruling from the Ministry and ensure you keep that written ruling in your files.
  3. Stay connected with your association.  Contact us if you are encountering difficulties and watch for our updates to stay better informed.