PST Self Assessment Explained - A Guide for BC Business Owners

Video Description

🛒 Are you running a business in BC and buying supplies out of province? You might owe PST and not even realize it! In this video, we’ll walk you through: ✅ When and why businesses need to self-assess PST in BC ✅ Common purchases that require self-assessment ✅ How to calculate and pay PST correctly to avoid penalties Understanding PST Self-Assessment helps you stay compliant, avoid surprises, and keep your finances in check. 👉 Need clarity on your tax obligations? Watch now and stay ahead! #canadiantaxes #smallbusinessfinance #taxtips #avalonaccounting ****************************** ✅ Sign up for our newsletter here: https://www.avalonaccounting.ca/weekl... ****************************** 🎥 CONTENTS OF THIS VIDEO 00:00 - Self Assess PST 00:35 - Who Needs to Self-Assess PST? 04:16 - When Does PST Self-Assessment Apply? 05:39 - How to Complete a PST Self-Assessment 07:26 - Practical Considerations for Business Owners 08:30 - Consequences of Not Self-Assessing PST 08:56 - Summary ****************************** 🔗 MENTIONED IN THIS VIDEO ► Form FIN 405 https://www2.gov.bc.ca/assets/gov/tax... ► Audit Red Flags: Mistakes That Could Cost You Big Time in Your Business    • Audit Red Flags: Mistakes That Could Cost ...   ****************************** 🅰️ AVALON ACCOUNTING Avalon is a virtual accounting firm located in Canada. We aim to be THE online accounting department for small businesses in Canada. We provide online bookkeeping, accounting services and expert financial advice for small businesses. We are on a mission to educate small business owners through our YouTube channel, blog and free resources. Check out our links below to dive in. ► Website: https://www.avalonaccounting.ca/ ****************************** 🧑‍🏫 ONLINE COURSES ► Take your business to the next level with our online courses. https://www.avalonaccounting.ca/courses ✅ ESSENTIAL FINANCIAL CONCEPTS FOR SMALL BUSINESSES (🆓FREE COURSE) ► Keys to building a business that provides owners with time, money and purpose. https://www.avalonaccounting.ca/cours... 🖥️ LEARN MODERN BOOKKEEPING ► Learn to do your own bookkeeping with modern tools and our proven practices. https://www.avalonaccounting.ca/cours... 📈 BOOKKEEPING AND TAX FOR FREELANCERS ► This course teaches sole proprietors how to simplify bookkeeping and taxes. https://www.avalonaccounting.ca/cours... ****************************** 💼 20% OFF INCORPORATION WITH OWNR If you are looking to incorporate (in Canada) and want to save some cash, check out Ownr with our affiliate link for 20% off incorporation costs: ► https://www.ownr.co/partners/avalon-a... We may receive compensation when our link is used to sign up with OWNR ****************************** 🧑🏻‍🏫 FREE BUSINESS GUIDES: ► Starting Your Business Guide: https://joecollins.typeform.com/to/bc... ► Business Owner’s Productivity Guide: https://joecollins.typeform.com/to/zJ... ► Financial Foundations Guide: https://joecollins.typeform.com/to/jF... ► $1 Million Dollar Service Based Business Guide: https://joecollins.typeform.com/to/e2...