British Columbia’s Finance Minister Carole James delivered the province’s 2018 budget on February 20, 2018.
The budget anticipates a surplus of $219 million for 2018, $281 million for 2019 and $284 million for 2020. The budget strongly emphasizes the province’s housing plan and making life more affordable. Specifically, the budget eliminates the Medical Services Plan premiums effective January 1, 2020, introduces an Employer Health Tax effective January 1, 2019, and includes various housing related tax measures, including the addition of a new “speculation tax”. The budget also introduces new rules to better track changes in beneficial ownership.
Download this edition of the TaxNewsFlash to learn more.
© 2018 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.