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Updates to income taxes

Last updated on April 3, 2024

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Personal income tax and tax credits

February 22, 2024

The provincial government announced its 2024 Budget on February 22, 2024. Programs administered by the Income Taxation Branch are amended as a result. Learn more at B.C. Provincial budget tax changes.

January 26, 2024

Information about the B.C. renter's tax credit has been updated.

January 17, 2024

The 2024 B.C. personal income tax brackets and rates and basic tax credits are now posted on our website.

For years prior to 2023, see our archived tax rates and archived basic tax credits pages.

Corporate income tax and tax credits

March 21, 2024

The natural gas tax credit tax has updated interest rates (%) on overdue balances and refunds for April to June 2024.

Insurance taxes

March 21, 2024

Insurance premium tax has updated interest rates (%) on overdue balances and refunds for April to June 2024.

January 3, 2024

As of January 1, 2024, electronic filing and payments for insurance premium tax are mandatory. 

The insurance premium tax web pages and FIN 518, Assignment of Refund (PDF, 170KB) have been updated to reflect this change. For more information, see:

Logging tax

March 21, 2024

Logging tax has updated interest rates (%) on overdue balances and refunds for April to June 2024.

BC home flipping tax

April 3, 2024

Bill 15, Budget Measures Implementation (Residential property (short-term holding) profit tax) Act, 2024, has been introduced in the BC legislature on April 3, 2024 to provide the proposed legislation for the BC home flipping tax. 

Information on the BC home flipping tax has been expanded. Additional information will continue to be added to the BC home flipping tax website. 

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March 20, 2024

Information about how the BC home flipping tax applies to presale contracts has been added to our website.