Tax changes coming as of January 1st: CTF

Must Read

Dan Davies officially kicks-off reelection campaign

FORT ST. JOHN, B.C. - Incumbent Peace River North MLA Dan Davies officially kicked-off his re-election campaign on Friday...

Dawson Creek RCMP detachment experiencing phone system issues

DAWSON CREEK, B.C. - Dawson Creek RCMP are reporting an issue with their phone system at the detachment. According to...

Inland opens new Fort St. John Facility at existing location

FORT ST. JOHN, B.C. - Inland is announcing the completion of their new Fort St. John facility. According to Inland, ...

FORT ST. JOHN, B.C. – The Canadian Taxpayers Federation (CTF) has released a report that is sent out every year, outlining the new year’s tax changes that will happen in B.C. and across the country as of January 1st.

The two main federal changes are to Employment Insurance (EI) premiums which will result in tax savings of up to $132 for employees and $185 for employers, and the first full year of the means-tested Canada Child Benefit (CCB), which is also tax-free.

MSP in B.C. will see a bump in the price you already pay but there will also be a drop in price for some. Any couple without children making more than $45,000 will pay $168 more this year. Any senior couple making more than $51,000 will pay $168 more this year. However, some households will see MSP go down, including singles making less than $42,000, couples making less than $45,000, senior couples making less than $51,000, single parent families, and families with kids making less than $51,000.

- Advertisement -

When it comes to ICBC, The average driver will pay $42 more this year for basic insurance and $18 more for optional insurance. This is set to take place on January 16th.

In April, a customer will pay $49.32 more on average this year to B.C. Hydro.

The Canadian Taxpayers Federation has also calculated tax impacts for families in 2017. You can view the full report at: http://www.taxpayer.com/media/2017-NYTC.pdf

- Advertisement -

Community Interviews with Moose FM


Subscribe to our newsletter

Get the latest news delivered to your mailbox every morning.

More Articles Like This