Ready for PST?

Monday morning will see a Provincial Sales Tax on tangible personal property. But what is that exactly anyways?  Tangible Personal Property (TPP)  is anything you can see, touch, weigh, measure, feel or that is perceptible.  Hmmm that sounds like pretty much everything.

From PST 2012-13 “…Tangible personal property also includes natural or manufactured gas, heat, electricity and affixed machinery, butdoes not include real property. Real property is land and any items permanently attached to land (buildings and structures).

Please note:
An improvement to real property, or a part of an improvement to real property, that is removed from the site at which it is affixed or installed (i.e. to be repaired) is tangible personal property while it is removed…”
So – what does this means?  That most “goods” at the consumer level will be impacted by PST unless it has some specific exemption.
Examples of TPP from my desk:  My water bottle, my computer monitor, my calculator – pretty much everything in my view.