The province will collect fees on private timber. They monitor timber stamps and volumes associated with them that go to a mill. This is why you need to get a timber stamp number and why mill purchases of all wood have to be documented. They don't always go after small volumes, but they can sometimes and it can be a surprise bill many years down the road. Just be aware.
"The province will collect fees on private timber."
You can get info on the Gov't of BC website under "Logging Tax". The province can also report this to Revenue Canada for Income Tax purposes. Believe me, that this can happen.
That is where I am getting all of the stumpage info from and there is no mention of stumpage on private land sales. If you have a direct link to the mention of private timber stumpage fees I would appreciate it cause I can't see a thing. All of it specifically states "crown land timber".
Yes that is a regular kind of income tax. It just falls under their government logging catagory for personal income taxes. No different really from selling any good/service and paying income tax on it. It's the governements way of record keeping for taxes (not stumpage) on the logging industry. When I discussed the subdivision with my business accountant that's all he said would be required as a tax on us clearing and selling the timber on our property. I asked him about the stumpage fees and he's the one that sent me the government links to look over to see that they don't mention private land at all. It's not a double tax. Once it's paid as a logging income tax, the seller is not double taxed as regular income also.
I live in the Interior and this happened to a good friend of mine that was clearing 2 acres of property to build on. Really big bill 2-3 years after the logging was done and all revenue was added to personal income tax. Surprise!! Anyway, this is real. Just trying to help. Not into arguing online.
No worries, no arguing here. Just want to sort out the information and the difference between the stumpage and logging tax.
Well the paperwork government stuff I'm not too concerned with cause I've been self employed both as corporate and sole proprietor for quite awhile and am pretty used to all the government red tape stuff. Especially in the mining industry. It's turned into a red tape **** show. Any of the tax stuff I don't know about my accountant takes care of all of that stuff.
No stumpage on private wood
True, stumpage only applies to crown wood not private wood but there is technically tax to be paid for income derived from selling private wood.
You will have to pay the provincial logging tax https://www2.gov.bc.ca/gov/content/taxes/natural-resource-taxes/forestry/logging-tax https://www2.gov.bc.ca/gov/content/taxes/natural-resource-taxes/forestry/logging-tax/file-pay
Thank you for the info. I have heavy equipment; excavators, dozer, loader, tractor trailers, etc so I think I'll be ok doing the rest of the clearing after the trees are felled. The subdivided property will be adjacent to the rest of our existing acereage so we can store and burn roots, excess wood and green waste on the other land while the developing is going on on the subdivided property.
Have fun burning the land clearing debris. Piles must be 500 meters from your neighbours and have to sit for 4 months to season and then tested with a moisture meter. Then you will probably have to wait another month or two to get a suitable ventilation forecast.
Where is this?
Everywhere people live in bc
