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.

Sales Taxes

Provincial Sales Tax

Three new exemptions added for farmers.

Motor Fuel and Carbon Tax

New exceptions for the requirement to pay security.

Income Taxes

Tax Credits

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 Taxes

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.

Historical Budget Information