The B.C. Business Council says Finance Minister Carole James should push off a Sept. 30 deadline for businesses to repay six months of deferred employer health tax, provincial sales tax, carbon tax, motor fuel tax and tobacco tax bills.
Instead, businesses should get those taxes further deferred until the end of the year, and then receive a 12-month repayment period in 2021 on top of their regular 2021 taxes, said Jock Finlayson, council vice-president.
“You want to minimize the number of otherwise viable businesses that close their doors, and particularly ones that are facing cash flow and liquidity issues that will resolve over time,” said Finlayson.
“Extend deferrals on tax remittances until the end of the year, because it’s not like by Sept. 1 or Sept. 30 the economy is going to be back on dry ground. It’s just not the case.”