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

Ladysmith Senior Boys come up big to reach Island Championship

Ladysmith Secondary’s back-and-forth rivalry this season with the Highland Raiders came to… Continue reading

B.C. freestyle skier wins gold

Cassie Sharpe of Comox shines in the halfpipe

Truck and taxi cab collide in Cedar

Accident happened Monday, Feb. 19 at about 2:15 p.m. on Harmac Road

Crash on Cedar Road detours traffic

Ford Taurus and GMC Sierra involved in collision in front of Cedar General Store

Ladysmith business applies for new building expansion downtown

Two homes on Kitchener Street would be demolished to make way for new Shar-Kare

WATCH: Vancouver Island man catches dashcam video of near head-on crash

Video shows oncoming van cross over centre line

Virtue and Moir end ice dance careers with Olympic gold

Virtue and Moir’s gold medal win at the Olympics makes them the world’s most decorated figure skaters

Canadians find living in small spaces teaches creativity

Canadian families choosing to live in small spaces to bring closeness to children

Emergency crews rescue pregnant woman after fall on mountain near Victoria

Roughly four-hour-long rescue includes firefighters from two departments

Nanaimo RCMP looking for suspect in alleged bank robbery

Police say a man robbed the Terminal Park TD Bank at about 3:40 p.m. on Saturday, Feb. 17

SAR suspends search for missing man at Sun Peaks

RCMP will continue to search for a missing man near Kamloops but SAR has suspended their role

Lottery will help save children’s lives

Each ticket gets you a chance to win a lot of money, while helping a lot of kids

B.C. RCMP officer officially cleared in car wash shooting incident

A report found the Salmon Arm officer fired 14 bullets at the man’s truck

Wounded Warrior Run stops in Port McNeill

For Jacqueline Zweng, the Wounded Warrior Run is a personal matter.

Most Read