Canadian Taxpayers Federation

By Randi-Marie Adams

Taxes

B.C. carbon tax to increase in 2022

Dec 27, 2021 | 7:56 AM

PRINCE GEORGE – The Canadian Taxpayers Federation released its annual New Year’s Tax Changes report on Monday, to highlight the major tax changes that will occur in 2022.

The Canadian Taxpayers Federation is a federally incorporated, not-for-profit citizen’s group dedicated to lower taxes, less waste, and an accountable government. The New Year’s Tax Changes report outlines the major tax changes that will occur in 2022 in each province, such as changes to income taxes, carbon taxes, and property taxes.

In this report, it was noted that the B.C. government is increasing the provincial carbon tax from 10 cents per liter of gasoline to 11 cents on April 1st. At that level, the first B.C. carbon tax will cost about $8 extra when filling up a minivan.

The increased carbon tax also applies to diesel for vehicles and to natural gas for home heating.

Also, some changes coming countrywide. The Canadian Taxpayers Federation highlighted major tax changes in the New Year across Canada.

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“If you’re making more than $40,000, the federal government will be taking more of your paycheck every month,” said Franco Terrazzano, Federal Director with the CTF. “From higher carbon taxes to rising alcohol, payroll and property taxes, there’s a raft of tax hikes coming in the New Year.”

Key takeaways from the report include:

• Taxpayers making $40,000 or more in 2022 will see the federal government deduct more money.
• The Canada Pension Plan tax increase will cost workers and businesses an extra $333 each in 2022.
• The Employment Insurance tax increase will cost each worker an extra $63 in 2022 and businesses an extra $89.
• The increase in the federal personal basic amount will save taxpayers $89.
• The federal carbon tax will increase for the third time during the pandemic to 11 cents per liter of gasoline on April 1, 2022.
• Alcohol taxes will increase for the third time during the pandemic on April 1, 2022. Taxes already account for about half of the price of beer, 65 percent of the price of wine, and more than three-quarters of the price of spirits.