On February 19th, 2019, British Columbia Finance Minister,
Carole James, announced the 2019 British Columbia Budget. No
changes were made to the existing personal and corporate tax rates.
Highlights of the Budget are summarized below.
INCOME TAX MEASURES
B.C. Child Opportunity Benefit Announced
Effective October 1, 2020, the new B.C. Child Opportunity
Benefit will be combined with the early childhood tax benefit into
a single new benefit, and will support families with children under
the age of 18. The early childhood tax benefit previously only
applied to children under the age of 6, and this new refundable tax
credit could provide families with the following benefits.
- Up to $1,600 per year for families
with one child
