On September 11th, 2017, British Columbia Finance Minister
Carole James provided a British Columbia Budget update. Below is a
summary of some of the tax and other measures announced in the
update.
Income Tax Measures
Corporate Income Tax Rates
The general corporate income tax rate will be increased by 1%
from 11% to 12% effective January 1, 2018. British Columbia's
corporate income tax rates for 2017 and for 2018 are as
follows:
2017
2018
In order to maintain tax integration, the British Columbia
Dividend Tax Credit for the taxable amount of eligible dividends
will increase from 10% to 12% effective January 1, 2019.
Personal Income Tax Rates
A new top personal income tax bracket is introduced effective
for 2018 and onwards. The income threshold for this new tax bracket
will be set at $150,000 in 2018, with taxable income in excess of
this amount being taxed at a rate of 16.8%. Below are the top
combined Federal and British Columbia personal
