Prior year updates to income taxes
Last updated on January 31, 2025Prior year updates to income tax information are archived here. Income taxes include personal income tax, corporate income tax, insurance premium tax and logging tax.
Looking for newer updates? View our current year updates to information about income taxes and subscribe to receive email notifications when we update our website.
Prior year updates by year
To view all the past updates, click Expand All below.
B.C. Income taxes - 2024
Personal income tax and tax credits
December 11, 2024
The B.C. climate action tax credit page has been updated to clarify that due to the postal disruption, Canada Post will not be delivering cheques for the B.C. climate action tax credit. Payments by direct deposit will still be made on January 3, 2025.
Find more information and learn how to sign up for direct deposit with the Canada Revenue Agency.
December 3, 2024
The 2025 B.C. personal income tax brackets and rates and basic tax credits are now posted on our website.
For years prior to 2024, see our archived tax rates and archived basic tax credits pages.
November 28, 2024
The Training Tax Credits: Table of Eligible Programs and Completion Requirements for Apprentices (PDF, 200KB) has been updated to:
- Remove programs that no longer apply
- Correct program names
- Show that the Gasfitter - Class B program became an interprovincial (Red Seal) program in 2024
- Note that the federal government announced they will be ending the Apprenticeship Incentive Grant and Apprenticeship Completion Grant programs on March 31, 2025
June 25, 2024
The B.C. family benefit page has been updated with the maximum annual credit amounts and income threshold amounts, and to include the temporary B.C. family benefit bonus payment, for the July 2024 to June 2025 benefit year.
June 17, 2024
The B.C. climate action tax credit page has been updated with the maximum annual credit amounts and income threshold amounts for the July 2024 to June 2025 benefit year.
May 3, 2024
Information about eligibility and how to claim the B.C renter’s tax credit has been updated.
Information about the mining exploration tax credit has also been updated.
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
December 12, 2024
The Film and television tax credit and Production services tax credit web pages have been updated with new tax credit measures, subject to approval of the legislature.
See the related news release for more information.
November 28, 2024
The Training Tax Credits: Table of Eligible Programs and Completion Requirements for Employers (PDF, 170KB) has been updated to:
- Remove programs that no longer apply
- Correct program names
- Show that the Gasfitter - Class B program became an interprovincial (Red Seal) program for taxation years that end after April 30, 2024
September 20, 2024
The natural gas tax credit has updated interest rates (%) on overdue balances and refunds for October to December 2024.
September 11, 2024
The Natural gas tax credit and the Cost of natural gas for the natural gas tax credit web pages have been updated to include information about the future application process and required documents, in particular for partnerships. This program will be of interest to natural gas owners planning to liquify natural gas at a major LNG facility in the future.
September 9, 2024
Information about production services tax credits and film and television tax credits has been updated to include links to new tools for estimating eligibility and filing deadlines.
June 25, 2024
The natural gas tax credit tax has updated interest rates (%) on overdue balances and refunds for July to September 2024.
May 3, 2024
Information for the clean buildings tax credit and the mining exploration tax credit have been updated.
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
September 20, 2024
Insurance premium tax has updated interest rates (%) on overdue balances and refunds for October to December 2024.
June 25, 2024
Insurance premium tax has updated interest rates (%) on overdue balances and refunds for July to September 2024.
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:
- File and pay your insurance taxes for licensed insurance
- File and pay your insurance taxes for unlicensed insurance
Logging tax
June 25, 2024
Logging tax has updated interest rates (%) on overdue balances and refunds for July to September 2024.
March 21, 2024
Logging tax has updated interest rates (%) on overdue balances and refunds for April to June 2024.
BC home flipping tax
December 23, 2024
Further information has been added to clarify the rules about pre-sale contracts in regard to the BC home flipping tax.
September 16, 2024
The BC home flipping tax pages have been updated to include information on selling property with portions of property acquired on different dates and with portions of property sold.
September 4, 2024
The BC home flipping tax website has been updated with a new page to provide information about trusts.
August 21, 2024
The BC home flipping tax website has been updated to add a new page to provide information about penalties and waivers.
August 13, 2024
The BC home flipping tax has been updated to provide additional information on the disposition of a taxable property.
August 8, 2024
The website has been updated to add a new page with details about commercial properties for the BC home flipping tax.
July 30, 2024
We've updated the Terms and definitions for the BC home flipping tax to include information about the cost to purchase the property.
June 17, 2024
The BC home flipping tax webpages have been expanded with more information on exemptions and calculations.
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.
Subscribe to receive email notifications when we update our website.
March 20, 2024
Information about how the BC home flipping tax applies to presale contracts has been added to our website.
B.C. Income taxes - 2023
Personal income tax and tax credits
December 19, 2023
Interest rates (%) for income tax related programs have been updated for January to March 2024 for:
- Interest charged on overdue balances and late payments (debit rates)
- Interest payable on refunds and credit balances (credit rates)
June 30, 2023
Budget 2023 increased the B.C. climate action tax credit amounts effective July 1, 2023. The web page has been updated with information for the new benefit year.
Budget 2023 permanently increased the B.C. family benefit amounts and added a new supplement for lower-income single parent families starting in July 2023. The web page has been updated with information for the new benefit year.
June 26, 2023
Interest rates (%) for income tax related programs have been updated for July to September 2023 for:
- Interest charged on overdue balances and late payments (debit rates)
- Interest payable on refunds and credit balances (credit rates)
April 28, 2023
The online forms to certify your retrofit for the clean buildings tax credit are now available. Learn more about how to claim the clean buildings tax credit.
March 24, 2023
Interest rates (%) have been updated for April to June 2023 for:
- Interest charged on overdue balances and late payments (debit rates)
- Interest payable on refunds and credit balances (credit rates)
February 28, 2023
The provincial government announced its 2023 Budget on February 28, 2023. Programs administered by the Income Taxation Branch are amended as a result. Learn more at B.C. Provincial budget tax changes.
February 25, 2023
Another B.C. affordability credit will be included with the April 2023 B.C. climate action tax credit payment. We’ve also made our B.C. climate action tax credit information easier to read.
February 14, 2023
Interest rates (%) have been updated for January to March 2023 for:
- Interest charged on overdue balances and late payments (debit rates)
- Interest payable on refunds and credit balances (credit rates)
January 26, 2023
For the purposes of the clean buildings tax credit, a calculator is now available to help you determine the building's energy use intensity values. The calculator is a downloadable Microsoft Excel workbook (XLSM, 121KB).
January 16, 2023
The B.C. 2023 personal income tax brackets and rates and basic credits are now available on our website. Information about tuition and education credits has been updated for clarity.
Corporate income tax and tax credits
September 26, 2023
The natural gas tax credit has updated interest rates (%) on overdue balances and refunds for October to December 2023.
January 6, 2023
Bulletin CIT 008, British Columbia Book Publishing Tax Credit (PDF) has been incorporated into web content. You can find the webpage at Book publishing tax credit.
Please update your bookmarks to the new location on our website.
Insurance taxes
September 26, 2023
Insurance premium tax has updated interest rates (%) on overdue balances and refunds for October to December 2023.
May 18, 2023
As announced for Budget 2023, to learn about your options for filing and paying insurance premium tax, see:
- File and pay your insurance taxes for licensed insurance
- File and pay your insurance taxes for unlicensed insurance
Penalties and interest for insurance premium tax are updated. To learn more, see Penalties and interest for insurance tax.
Penalties and interest for logging tax are also updated. To learn more, see Penalties and interest for logging tax.
Logging tax
September 26, 2023
Logging tax has updated interest rates (%) on overdue balances and refunds for October to December 2023.
May 18, 2023
As announced for Budget 2023, to learn about your options for filing and paying insurance premium tax, see:
- File and pay your insurance taxes for licensed insurance
- File and pay your insurance taxes for unlicensed insurance
Penalties and interest for insurance premium tax are updated. To learn more, see Penalties and interest for insurance tax.
Penalties and interest for logging tax are also updated. To learn more, see Penalties and interest for logging tax.
B.C. Income taxes - 2022
December 6, 2022
More information about how to certify a retrofit for the clean buildings tax credit is now available. The online forms for this process will be available April 2023.
December 1, 2022
Insurance agents must submit requests for refunds on behalf of clients individually, not with a batch of Returns of Unlicensed Insurance.
FIN 529, Insurance Agency Summary Report, has been updated to reflect this change.
Learn more about how to request a refund for insurance premium tax.
November 18, 2022
The B.C. government announced a B.C. affordability credit paid with the B.C. climate action tax credit payment for January 2023.
October 6, 2022
Bulletin GEN 002, Appeals (PDF, 160KB) and the Can you appeal? page have been revised to update the appeal deadline information for insurance premium tax and logging tax, as a result of Budget 2022.
September 26, 2022
Interest rates (%) have been updated for October to December 2022 for:
- Interest charged on overdue balances and late payments (debit rates)
- Interest payable on refunds and credit balances (credit rates)
September 7, 2022
The provincial government is providing a temporary benefit enhancement for the B.C. family benefit (previously called the B.C. child opportunity benefit). The enhancement provides up to $175 per child for the period January 2023 to March 2023 (up to $58.33 per month). Learn more about the B.C. family benefit.
The provincial government also announced a one-time enhanced B.C. climate action tax credit payment for October 2022. Learn more about the climate action tax credit.
July 22, 2022
Information about the production services tax credit has been updated to reflect new proposed legislative measures. These changes affect production companies that first incurred accredited B.C. labour expenditures between July 1, 2020 and February 21, 2022. Learn more and see examples:
- Production services tax credit
- Production services tax credit frequently asked questions
July 19, 2022
The B.C. climate action tax credit page has been updated with the payment amounts and income threshold amounts for the July 2022 to June 2023 benefit year.
July 13, 2022
A new Clean Buildings Tax Credit Regulation has been enacted. Information about the clean buildings tax credit and calculating energy use intensity has been updated to:
- Add prescribed energy conversion factors
- Clarify information about qualified persons, heating degree days and determining EUI if your building has parts that are different types
June 28, 2022
Interest rates (%) have been updated for July to September 2022 for:
- Interest charged on overdue balances and late payments (debit rates)
- Interest payable on refunds and credit balances (credit rates)
April 13, 2022
Interest rates (%) have been updated for April to June 2022 for:
- Interest charged on overdue balances and late payments (debit rates)
- Interest payable on refunds and credit balances (credit rates)
April 6, 2022
The BC child opportunity benefit web page has been updated to include adjusted family net income thresholds for payments made for July 2022 to June 2023.
February 22, 2022
The provincial government announced its 2022 Budget on February 22, 2022. Programs administered by the Income Taxation Branch are amended as a result. Learn more at B.C. Provincial budget tax changes.
February 8, 2022
Interest rates (%) have been updated for January to March 2022 for:
- Interest charged on overdue balances and late payments (debit rates)
- Interest payable on refunds and credit balances (credit rates)
January 20, 2022
The following tax credit pages have been updated for clarity:
- Film and television tax credit
- Film and television tax credit frequently asked questions
- Production services tax credit
- Production services tax credit frequently asked questions
B.C. Income taxes - 2021
August 5, 2021
The Increased Employment Incentive web content has been updated to provide further clarification on how the credit is calculated.
April 20, 2021
The provincial government announced its 2021 Budget on April 20, 2021. Programs administered by the Income Taxation Branch are amended as a result. Learn more at B.C. Provincial budget tax changes.
March 30, 2021
Applications for the B.C. increased employment incentive are now open online and will close on December 31, 2021.
Visit the B.C. increased employment incentive webpage to learn more about:
- Which employers are eligible for the credit
- How to calculate the credit amount
- What you need to apply
March 19, 2021
The following tables have been revised to include updated information about the programs eligible for the training tax credit.
- Table of Eligible Programs and Completion Requirements for Apprentices (PDF, 256KB)
- Table of Eligible Programs and Completion Requirements for Employers (PDF, 267KB)
March 11, 2021
The provincial government proposed extending the B.C. book publishing tax credit by five years.
Learn more about the B.C. book publishing tax credit.
B.C. Income taxes - 2020
September 17, 2020
As part of B.C.’s COVID-19 Economic Recovery Plan, government announced the B.C. Increased employment incentive, a tax credit for employers who create new jobs for B.C. workers or increase the payroll for existing low- or medium-income employees in the last quarter ending December 31, 2020.
September 4, 2020
As part of our COVID-19 supports, the deadline to claim the following tax credits for claims required to be made March 13, 2020 or later is extended to six months from the original due date or to December 31, 2020, whichever is earlier:
- book publishing tax credit
- film and television tax credit
- production services tax credit
- interactive digital media tax credit
- mining exploration tax credits (personal)
- mining exploration tax credits (corporate)
- scientific research and experimental development tax credit
- training tax credit for employers
The B.C. mining flow-through share (B.C. MFTS) tax credit eligibility period is being extended from 24 months to 36 months for 2019 and 2020 flow-through share purchases. This is the eligibility period during which an expenditure must be incurred by the issuer in order to be renounced in favour of flow-through shares. This extension aligns the eligibility period for the B.C. MFTS tax credit with the temporary federal timelines for flow-through shares.
May 28, 2020
B.C. logging tax returns due between the periods of March 18, 2020 to August 31, 2020 are now due September 1, 2020.
May 21, 2020
The Federal government announced benefit payments will continue for an additional three months for those who are not able to file their 2019 income tax returns on time. This will also apply to the enhanced B.C. climate action tax credit payment for July 2020 and the B.C. Early Childhood Tax Benefit payments for July 2020 to September 2020.
April 2, 2020
In response to the B.C. government's COVID-19 action plan, the B.C. climate action tax credit web content has been updated to include details about a one-time enhanced July 2020 payment.
March 23, 2020
Effective immediately, the B.C. government has introduced tax changes to assist in the response to COVID-19. Learn more at COVID-19 action plan - provincial tax changes.
March 9, 2020
The B.C. Taxpayer Fairness and Service Code is now available online.
February 18, 2020
The provincial government announced its 2020 Budget on February 18, 2020. Programs administered by the Income Taxation Branch are amended as a result. Learn more at B.C. Provincial budget tax changes.
January 2, 2020
The Natural gas tax credit website has been updated to:
- Explain how to calculate the cost of natural gas for the Natural Gas Tax Credit
- Include the new Natural Gas Tax Credit Application form (FIN 515)
- Include an Annual Cost of Natural Gas Worksheet template
B.C. Income taxes - 2019
March 26, 2019
The Bill 10 - Income Tax Amendment Act, 2019 proposes to implement a natural gas tax credit for liquefied natural gas development in B.C. Learn more about the proposed natural gas tax credit.
February 19, 2019
The provincial government announced its 2019 Budget today. Programs administered by the Income Taxation Branch are amended as a result. Learn more at B.C. Provincial Budget Tax Changes.