B.C. Finance Minister Carole James (Hansard TV)

NDP matches B.C. Liberal tax cut promise

Small business income tax relief retroactive to last spring

B.C.’s small business income tax rate has been reduced from 2.5 per cent to two, and the change is being made retroactive to April 1, 2017.

Both the NDP and the B.C. Liberals promised the tax would be reduced that amount, with the B.C. Liberals promising to make it retroactive. In last spring’s election campaign, the NDP promised only to cut the tax by half a point, and to raise the large corporate income tax from 11 to 12 per cent at the start of the new fiscal year, April 1, 2018.

The NDP government is also carrying out the B.C. Liberal promise to remove provincial sales tax from business electricity bills. Half of that tax came off this fall and Finance Minister Carole James said the rest is to be removed in April 2019. PST is not charged on residential B.C. Hydro bills.

In her budget update in September, James announced the return of a high-income personal income tax bracket. Effective April 1, 2018, personal income tax goes up two per cent on income over $150,000 a year, restoring an increase put in place by the B.C. Liberals before the 2013 election and removed two years later.

Just Posted

Where do Campbell River council candidates stand on municipal tax increases?

Differing views on how too keep taxes down – or whether that is even possible

Campbell River candidates shovel their way through snow removal question

How do the candidates feel about the city’s current snow removal policies and what would they change?

Confusion in Campbell River on first day of cannabis legalization

Some users puzzled as dispensaries close just before pot becomes legal across Canada

Aquaman star spotted around Campbell River as production ramps up on See

Jason Momoa, best known for his role in Game of Thrones, is in town to film television series

VIDEO: This is what buying legal pot in B.C. looks like

Take a look inside B.C.’s first and only legal pot shop located in Kamloops

Mellow opening to B.C.’s only legal pot shop

About five people lined up early for the opening of the BC Cannabis Store in Kamloops.

Nurses call on B.C. health minister to end violence in the workplace

Nurses delivered thousands of postcards to the front steps of the B.C. legislature, each carrying a message for violence prevention

Openly gay, female priest of B.C. church defying norms

Andrea Brennan serves Fernie at pivotal time in church’s history

Nova Scotia works to stop underage online cannabis sales

The government cannabis retailer moves to prevent workaround of online-age verification

Foster care is ‘superhighway to homelessness,’ B.C. youth advocate says

Katherine McParland grew up in foster care and lived on the streets

Carr, Morneau off to China next month to deepen commerce

Carr says Canada and China aren’t embarking on formal free trade talks

Edmonton girl guide sells out of cookies in front of cannabis store

On the first day cannabis was legal a young entrepreneur capitalized on cookie sales

Tougher laws introduced against bestiality, animal fighting

The Liberal government is proposing to strengthen the laws today

Money Monitor: Should you switch to a fixed-rate mortgage?

BMO’s Omar Abouzaher outlines the pros and cons of both types of mortgages

Most Read