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

City of Colwood considers plastic bag ban

Bylaw must be brought forward for public input before adoption

West Shore RCMP catch thieves in the act in Colwood

Thieves were trying to steal a utility trailer from the driveway of a home

Premier asks for re-do on Highway 14 study

A study on Highway 14 improvement has been delayed for a second… Continue reading

Recent calls prompt warning from Langford Fire Rescue

Heating sources are one of the leading causes of house fires

Santa’s Light parade glides through town on Saturday

Vancouver Island’s most popular Christmas parade is back for its 36th year

VIDEO: Innovating healthier homes

NZ Builders bring commercial concept into residential realm to improve energy efficiency and health

LGBTQ advocates want military, RCMP to take part in apology

“These are all the organizations that perpetrated past discrimination against the LGBTQ community.”

Canadians are getting bad advice from the taxman

An auditor has found that Canadians are getting bad advice from the taxman, when they can get through

B.C. mining company stakes claim in Australia

Copper Mountain is set to purchase Cloncurry Copper Project in a $93-million deal.

Developers to put 25,000 cubic metres of Esquimalt fill into Cordova Bay site

Cordova Bay’s Trio site development still awaiting redesign

Wet weather expected for much of coastal B.C.

The Weather Network is calling for up to 200mm of rain to fall in some areas of the South Coast and Vancouver Island

B.C. reporter reflects on covering Charles Manson

Charles Manson, leader of a murderous cult, died on Sunday at 83

Running back propels Spectrum Thunder into first Subway Bowl final

Brandon Robbins scores hat trick of touchdowns

ICBC overbilling for crash repairs not the problem, dealers say

Collision repair shops reject union claim of inflated costs

Most Read