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If you’re thinking about relaxing after a long day at work with a fizzy drink and watching some anime, it will cost you a little more this summer. The provincial budget for 2020 was released today, and Finance Minister Carole James announced some new taxes, one of which impacts online video streaming.
As of July 1st, 2020, services such as Netflix, Crunchyroll, FunimationNow, Disney+, and others will be subject to the seven percent provincial tax under the categorization of “foreign sellers of software and telecommunication services.” It is expected that this will bring a projected $11 million CAD into the provincial coffers.
Sweetened, carbonated drinks are also being hit with the seven percent provincial sales tax on July 1st, 2020 as well. This will supposedly give the province some $27 million CAD in the next year.
According to the CBC, this (and other financial measures) are predicted to give British Columbia a surplus of $227 million CAD for the fiscal year 2020-21.
To view the full budget, visit the provincial government’s budget web site.
Sources: CBC, BC Budget 2020
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