By Olivia McDonald

New Year BC Tax Hike Will Reach Prince George

Dec 30, 2018 | 7:59 AM

BRITISH COLUMBIA – With the New Year just around the corner, The Canadian Taxpayers Federation is warning residents of British Columbia to prepare themselves for a big hike in employer, property and fuel taxes. 

“The Employer Health Tax will have a cascading effect across the province, putting a chill on new hiring and pay raises, and risking property tax hikes from Port Alberni to Prince George,” said Kris Sims, B.C. Director of the Canadian Taxpayers Federation. “This is a huge downloading of taxes from Victoria onto the backs of job creators and municipalities across the province.”

Stacked on top of the pre-existing Medical Services Premium, MSP, the EHT starts in 2019 and is creating a double dip of taxation on many B.C. employers. Because most cities and towns have a payroll of more than $500,000, their budgets are directly impacted, causing the need for town budget cuts or property tax hikes. 

Employers with a payroll of more than $1.5 million must pay a tax of 1.5 per cent, while job creators with a smaller payroll pay on a different scale. 

Homeowners in places such as Vancouver with homes valued at more than $3 million are getting hammered with a new “school tax” created by the provincial government. Despite being labelled a school tax, the money goes into general revenue. 

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Tax hikes on British Columbians will continue throughout the year, with the carbon tax leaping from $35 per ton to $40 per ton on Apr. 1, 2019. This tacks 8.89 cents on to every litre of gasoline bought in B.C.