The British Columbia Ministry of Finance announced the following updates to some EHT sections to make the information clear on their website:
- For the filing and paying section, the page has been updated for reorganization purposes and to provide additional information relevant to taxpayers for EHT purposes.
- For the penalties and interest section, the page has been updated to provide more information on why interest/penalties may be charged, how you can submit a waiver of penalties/interest request to the ministry and information on voluntary disclosure.
- For the stock option benefits section, the page was updated to be more explicit and easy to understand by taxpayers for EHT purposes. Stock option benefits represent a benefit received by the employee due to their employment relationship. Employer health tax applies in the calendar year on the stock option benefits that must be reported in Box 14 of the employee’s T4 slip.