Taxes in BC, especially at restaurants can be very confusing!! While you will be charged the GST on the full amount of your drinks and meal, you will only need to pay the full 7% PST on Sugary / Soda drinks, and a 10% PST on Alcoholic beverages.
PST exemptions in British Columbia (from: gov.bc.ca) In some cases provincial sales tax (PST) doesn't need to be paid on purchases or leases. The following exemptions are available to everyone and don't require any documentation:
GST/HST Exempt Items across Canada (from taxtips.ca)
Taxable goods and services, for purposes of GST and HST, include items which are zero-rated. That is, these items are considered taxable, but the tax rate is zero. These zero-rated items include things such as:
Federal Income Tax Rates (2023)PRovincial Income Tax Rates for: BC, Alberta & Ontario (2023)But wait...there's more!! What about CPP and EI??the Canada Pension Plan (CPP) (www.hireborderless.com)The Canada Pension Plan (CPP) is a mandatory public pension plan in Canada that provides basic financial support to retired, disabled, or deceased workers and their families. It is funded through contributions from both employees and employers as well as self-employed individuals. The CPP is administered by the federal government and is available to all eligible Canadian residents. Eligibility is determined by an individual's age, work history, and contributions made to the plan. Workers who have contributed to the CPP for at least one year are eligible to receive CPP retirement benefits when they reach the age of 65. The amount of benefits workers receive is based on their average earnings and the number of years they contributed to the plan. In addition to retirement benefits, the CPP provides survivor and disability benefits to eligible beneficiaries. Survivor benefits are paid to the surviving spouse or common-law partner of a deceased contributor. In contrast, CPP disability benefit is paid to contributors who are unable to work due to a severe and prolonged disability. The CPP rate for 2023 is 5.95% of your gross salary, up to $66,000 (minus the $3,500 exemption). This is paid by both the employee and the employer. Ex: Jenny makes $50,000 in salary. She will need to pay 5.95% of her gross salary, minus the $3,500 exemption, meaning she will pay on $46,500. $46,500 x 0.0595 = $2,766.75 to be paid in CPP contributions. |
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To read more about the importance of both Hard and Soft Skills, you can read more HERE
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What is Post-Secondary? Any education that takes place after High School
There are private and public institutions. There are colleges, universities, vocational schools and institutes
Colleges may have undergraduate degrees – smaller classes, less expensive
Universities have undergraduate and graduate degrees – larger classes, more expensive
Accreditations offered at different Post-Secondary Schools
What is the BC Transfer Guide – www.bctransferguide.ca
It helps outline the transferability between Post-Secondary Institutions
BC Education Planner – www.educationplannerbc.ca
It helps you compare the different programs offered at various BC post-secondary institutions
Student Transcript Service BC – www.studenttranscripts.gov.bc.ca
Follow the prompts to have your transcripts sent to the correct post-secondary institutions
Degree programs typically require 120 credit hours (most courses are 3 credits)
A 4-year degree is just an average, based on someone taking 30 credits (@10 classes) per year.
**You don’t need to finish a degree in 4 years, you can take more or less time, depending on how many classes you take in a year.**
“There’s not only one way to get to where you need to go.”
Limited intake programs: only a set number of students accepted, and usually your classes are laid out for you.
Open intake programs: provide more options and more students are accepted.
How can I pay for school?
You can get a Student Loan (0% interest until after you graduate, usually starts to need to be paid back 6 months after graduation)
BC student loans
Canadian student loans
Work experience while learning?
Consider if the schools you are applying to offer Co-op programs
How can I give myself the best chance to get into a variety of schools?
Make sure you do well in English 12. Most programs / schools have a requirement of Eng 12.
Scholarships: FILL IN THE SCHOLARSHIP APPLICATION! (Can be found in the Counselling Office)
There are private and public institutions. There are colleges, universities, vocational schools and institutes
Colleges may have undergraduate degrees – smaller classes, less expensive
Universities have undergraduate and graduate degrees – larger classes, more expensive
Accreditations offered at different Post-Secondary Schools
- Certificates
- Diplomas
- Undergraduate / Bachelor's degree
- Graduate / Master's degree
- Red Seal Degree – Highly experiential (specific to trades)
- Doctorate / PhD
- Cost?
- Proximity to home?
- Length of Program?
- Class size?
- Does the program offer what you are looking for?
What is the BC Transfer Guide – www.bctransferguide.ca
It helps outline the transferability between Post-Secondary Institutions
BC Education Planner – www.educationplannerbc.ca
It helps you compare the different programs offered at various BC post-secondary institutions
Student Transcript Service BC – www.studenttranscripts.gov.bc.ca
Follow the prompts to have your transcripts sent to the correct post-secondary institutions
Degree programs typically require 120 credit hours (most courses are 3 credits)
A 4-year degree is just an average, based on someone taking 30 credits (@10 classes) per year.
**You don’t need to finish a degree in 4 years, you can take more or less time, depending on how many classes you take in a year.**
“There’s not only one way to get to where you need to go.”
Limited intake programs: only a set number of students accepted, and usually your classes are laid out for you.
Open intake programs: provide more options and more students are accepted.
How can I pay for school?
You can get a Student Loan (0% interest until after you graduate, usually starts to need to be paid back 6 months after graduation)
BC student loans
Canadian student loans
Work experience while learning?
Consider if the schools you are applying to offer Co-op programs
How can I give myself the best chance to get into a variety of schools?
Make sure you do well in English 12. Most programs / schools have a requirement of Eng 12.
Scholarships: FILL IN THE SCHOLARSHIP APPLICATION! (Can be found in the Counselling Office)
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