British Columbia Budget Summary

British Columbia 2020-2021 Budget

2020 B.C. Budget: New personal income tax rate on income over $220,000

B.C. Finance Minister Carole James tabled the provincial government’s budget on February 18, 2020.  Highlights include: 

  • The introduction of a new personal income tax rate of 20.5% on income over $220,000
  • No changes to corporate income tax rates
  • An update to carbon tax rates to reflect the latest science on emissions

View British Columbia Budget Summary

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Every year, federal and provincial budgets bring changes to tax rules that may impact Canadians and privately controlled corporations. MNP is committed to providing you with the latest budget-related updates to optimize your tax planning, corporate structures, and investment strategies.

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Am Lidder

Am Lidder CPA, CA

Senior Vice President, Tax Services

Brian Posthumus

Brian Posthumus CPA, CA

Regional Tax Leader

Christopher Tilbury

Christopher Tilbury CPA, CA

Partner, Regional Tax Leader, Fraser Valley

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James Kungel CPA, CA

Regional Tax Leader

Kevin Wong

Kevin Wong CPA, CA

Regional Leader, Taxation Services

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Tracy Leishman CPA, CA

Partner, Regional Tax Leader, Peace Region

Ryan Hoag

Ryan Hoag CPA, CGA

Regional Managing Partner, Lower Mainland