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

Ground breaking for Belmont residences takes place next week

Community to meet team developing the space on the former Belmont Secondary school site

West Shore athletes eye spot at Youth Olympic Games

Online fundraising campaign aims to help May sisters compete at trials

Metchosin Baha’i event supports region’s homeless

Towels, toothbrushes and socks to be collected for Our Place’s bath program

Royal Roads University and First Nations Technology Council partner for tech education

The program provides six technical and innovation streams to indigenous groups

Police still searching for missing Langford teen

Ashley Garland could be using the alias Michelle Adams

Snowboarding debuts at B.C. Games

Merren deBellefeuille was lone Vancouver Island (Zone 6) athlete in ladies’ snowboard cross

BCHL Today: Cowichan Caps play spoiler and Nanaimo wins 10th straight game

BCHL Today is a (near) daily look at what’s going on around the league and the junior A world.

Federal budget to unveil incentive for 5-week second parent leave: official

Goal behind the measure is to give parents more incentive to share child-rearing responsibilities

Notley says Alberta watching B.C. court bid closely, will get no free ride on it

Alberta Premier Rachel Notley ended the three-week ban on B.C. wine, calming the trade war

Trudeau ends troubled India trip in his comfort zone of hockey and youth

The players, 18-25, came to New Delhi from Ladakhi in northern India, as part of outreach program

OLYMPIC ROUNDUP: Kim Boutin named Canada’s flag bearer for closing ceremony

Two more medals for Canada, including the bronze in men’s hockey

Team Canada’s Dave Duncan apologizes after drunken joyride in Pyeongchang

Duncan, his wife Maja and Canadian technical coach William Raine detained by South Korean police

Czechmate: Canada wins men’s Olympic hockey bronze

Vernon’s Andrew Ebbett scores twice as Canada beats Czech Republic 6-4

Most Read