It’s that time of year again. Government budget season is upon us.  British Columbia is the second province to bring down a budget this year. The focus of their budget was child care, affordable housing and services. There was some provincial sales tax (PST) changes announced to help fund these initiatives. British Columbia imposes a tax on passenger vehicles based on the value of the vehicles. Graduated tax rates, or luxury tax rates, start where the vehicle is valued at $55,000 at which point there is an additional 1% tax applied at the time of sale of the vehicle for a total tax of 8%. The current luxury tax rate for vehicles valued at $57,000 and over carries a 10% tax (12% for gifts and private sales). The British Columbia budget added two additional categories of luxury tax rates as follows: Read More

Grant Gilmour

What are the combined tax rates for 2017— Federal and British Columbia? Tax rates change every year and there are several types of income that are taxed differently.

See updated tax rate charts (with estimates) for 2017.

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