Saturday , May 15 2021

2019 tax increase: From gas to retirement, BC. residents will pay more

After midnight, it will become more expensive to live in B.C.

Carbon tax, gas tax, and medical service fees are all changing, and while residents will pay less in some areas, they will continue to pay more.

As the calendar revolves in 2019, governments will seek to generate more revenue.

How much will you pay yet?

The Canadian Federation of Taxpayers reported the average person to B.C. Making $ 30,000 a year will pay an additional $ 85 more than last year, while someone earning $ 60,000 to $ 90,000 will pay less than $ 50 more.

A family with two income earning $ 60,000 will pay only $ 26 more, while the $ 200,000 family will pay an additional $ 78.

The only group that CTF has reviewed, which will pay less than 2019 in 2019, are two-income families earning less than $ 30,000. The Federation estimates that by 2019 will pay about $ 670 less.

Looking at where these estimates come from, CTV News has chosen an example of a two-income family that earns about $ 120,000 annually. The family will pay an additional $ 196 for the Canadian pension plan, but will pay $ 34 less for job security, the CTF states.

It will also pay $ 33 less for federal income tax, $ 11 less in income tax in the province, and $ 23 less for MSP.

With all the ups and downs, they will pay about $ 94 more next year at BC, somewhat less than the national average of $ 98.

A full report is available online.

Other taxes and increases

V. The government will begin to phase out MSP premiums gradually, replacing them with a new employer's health tax (EHT). Change means that companies and even municipal authorities have to bear the costs of their workers.

"Of course we know that City Hall does not create its own money, it takes the money from taxpayers," says Kris Sims, BSc. director of CTF.

"So many people will be surprised by the increase in property taxes this year."

The city of Vancouver mentioned EHT as one of the reasons for increasing property taxes by 4.5 percent.

Apart from the other increases and decreases, B.C. homeowners worth $ 3 million to $ 4 million will pay an additional 0.2 percent of school fees to a part of their house above $ 3 million.

For example, homeowners worth $ 3.5 million will be subject to an additional $ 500,000 tax.

Those with homes rated at higher value will pay a 0.4 percent tax on a portion of their property worth more than $ 4 million.

The increase is not without controversy. Earlier this year, "deceptive" notifications were sent to the residents of Tony Point Gray in Vancouver, and the spring summit meeting was postponed for security reasons.

Starting in April, the carbon tax ranges from $ 35 to $ 40 per tonne. The initiative adds about 8.9 cents per liter of gas purchased at B.C., quoted by CTF.

TransLink tax also increases from 17 cents to 18.5 cents per liter of gas purchased at Metro Vancouver.

With Ben Miljure report from CTV in Vancouver

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