Implementation Details For B.C. Health Tax Released

VICTORIA – A tax notice was released Wednesday by the Ministry of Finance on implementation details of the Employer Health Tax (EHT) and the elimination of Medical Services Plan (MSP).

B.C. Finance Minister, Carole James says with the introduction of EHT, families will be saving up to $1,800, while individuals will save up to $900 each year.

The tax notice says the annual payroll tax will cover salaries, bonuses, vacation pay, tips paid through an employer, and employer contributions to registered retirement savings plans

Transitioning to the EHT will ensure that public services such as post-secondary institutions, community health and social service providers, school districts and health authorities are not impacted. A full list of implementation details can be found on the B.C. government website.