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On October 27, 2010, Premier Gordon Campbell announced a 15% reduction in personal income tax rates, for the first $72,000 of personal income for all British Columbians. This is the second-largest personal income tax relief measure in B.C. history, ensuring B.C. individuals pay the lowest provincial income tax in Canada, on incomes up to $130,000.
Subject to legislative approval, the new 15 per cent rate reduction applies to earnings up to $72, 293, and is effective Jan. 1, 2011. That tax relief will save individual B.C. taxpayers up to $616 annually.
The following tables outline the announced tax measures:
For more information, please contact a member of our team at www.mnp.ca.
Related Topics:Personal Tax
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