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.

  • Bulletin PST 101 Farmers (PDF)

Motor fuel and carbon tax

New exceptions for the requirement to pay security.

  • Bulletin MFT-CT 001 Fuel Sellers (PDF)

Income taxes

Tax credits

New B.C. Farmers’ food donation tax credit introduced for farmers and farming corporations.

  • B.C. Farmers' food donation tax credit

B.C. Seniors’ home renovation tax credit expanded to include persons with disabilities.

  • Home renovation tax credit for seniors and persons with disabilities

B.C. Tax reduction tax credit amended.

  • Basic tax credits

Mining exploration tax credit extended and filing deadline amended.

  • Mining exploration tax credit (personal)
  • Mining exploration tax credit (corporate)

B.C. Mining flow-through share tax credit extended.

  • B.C. Mining flow-through share tax credit

Film and television regional and distant location tax credits clarified.

  • Film and television tax credit

Production services regional and distant location tax credits clarified.

  • Production services tax credit

Property taxes

Property transfer tax

New tax rate introduced on the portion of a property's fair market value above $2 million.

  • Understand your taxes

New exemption introduced for newly built homes.

  • Newly built home exemption

New citizenship disclosure requirements will come into effect in Spring 2016.

  • Legal professionals