2016 Budget Tax Changes
On February 16, 2016, the government announced proposed changes to the provincial tax laws.
Read a summary explanation of all the tax changes in the Budget and Fiscal Plan.
Changes were introduced for:
Learn more about the following tax changes using the sources below.
Provincial Sales Tax
Three new exemptions added for farmers.
- Bulletin PST 101 Farmers (PDF)
Motor Fuel and Carbon Tax
New exceptions for the requirement to pay security.
New B.C. Farmers’ Food Donation Tax Credit introduced for farmers and farming corporations.
B.C. Seniors’ Home Renovation Tax Credit expanded to include persons with disabilities.
B.C. Tax Reduction Tax Credit amended.
Mining Exploration Tax Credit extended and filing deadline amended.
B.C. Mining Flow-Through Share Tax Credit extended.
Film and Television Regional and Distant Location Tax Credits clarified.
Production Services Regional and Distant Location Tax Credits clarified.
Property Transfer Tax
New tax rate introduced on the portion of a property's fair market value above $2 million.
New exemption introduced for newly built homes.
New citizenship disclosure requirements will come into effect in Spring 2016.