Updates to income taxes
Last updated on June 25, 2024Not subscribed for tax updates yet? Sign up here.
On this page
- Personal income tax and tax credits
- Corporate income tax and tax credits
- Insurance taxes
- Logging tax
- BC home flipping tax
Personal income tax and tax credits
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
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
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
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.
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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.