Some tax increases can make life more expensive in the new year.
On Thursday, the Canadian Federation of Taxpayers issued a warning on news releases about tax increases, including Employer Health Taxes, which would eliminate the premium Medical Service Plan at B.C. starting January 1, 2019.
"Employer Health Taxes will have a tiered effect across the province, giving fresh air to recruitment and new salary increases, and risking a property tax increase from Port Alberni to Prince George," said Kris Sims, BC director of the federation. from Victoria to the back of the creators of jobs and cities in all provinces. "
But not everyone agrees that new taxes will make life more difficult.
The provincial government said the abolition of the MSP premium would result in a net tax reduction of around $ 800 million per year for British Columbia residents. Families can save up to $ 1,800, and everyone can save up to $ 900 every year.
"While other provinces cancel MSP premiums, former governments double and download these unfair fees to middle-class individuals, families and seniors. "Replacing MSP premiums with EHT follows in the footsteps of other provinces, and is a far more just and progressive approach," Finance Minister Carole James said in July.
But the federation said the new tax would be "double dip taxation" at the employer's SM. The organization predicts many cities can see their budget increases because they have a payroll of more than $ 500,000, which in turn can lead to "budget cuts or increases in property taxes."
The city of Surrey faces a $ 4.7 million fee increase to pay health taxes, the federation said.
Health Tax Law Employers set a 1.95 percent tax on business payrolls with payrolls of more than $ 1.5 million. Businesses with a salary of between $ 500,000 and $ 1.5 million pay a reduced tax amount. The government has said that less than five percent of businesses in BC. will pay full tax. Many small businesses will be protected by a $ 500,000 waiver, while the salaries of charities and non-profits will be protected through a $ 1.5 million waiver.
In addition to the Employers Health Tax, the federation also pointed to other taxes which are expected to increase in 2019, such as school taxes. Homeowners in places like West Vancouver and North Vancouver with houses worth more than $ 3 million were "hammered," according to the federation.
The tax increase will continue throughout the year, with carbon taxes surging from $ 35 per ton to $ 40 per ton on April 1, 2019. The increase will tie 8.89 cents to every liter of gasoline purchased in BC, while TransLink tax is also expected to rise in the spring, from 17 cents to 18.5 cents per liter of gas.
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