Lowest Personal Taxes
B.C. families generally have one of the lowest overall tax burdens in Canada including income taxes, consumption taxes, property taxes, health care premiums and payroll taxes.
B.C. currently has the lowest provincial personal income taxes in Canada for individuals earning up to $122,000 a year.
A single individual can earn more than $19,000 before paying provincial income taxes.
Provincial personal income taxes for most taxpayers have been reduced by 37 per cent or more since 2001, and today an additional 400,000 people no longer pay B.C. income tax.
- An individual earning $20,000 a year pays $708 less in provincial income taxes than they did in 2001.
- A senior couple earning $40,000 a year pays $752 less in provincial income taxes than they did in 2001.
- An individual earning $50,000 a year pays $1,328 less in provincial income taxes than they did in 2001.
- A family of four earning $70,000 a year pays $2,037 less in provincial income taxes on their earnings than they did in 2001.
For more information on how the Government of B.C. is keeping taxes low for B.C. families, visit https://news.gov.bc.ca/factsheets/keeping-taxes-low-for-bc-families.