The Province of British Columbia has officially released Budget 2026. While the focus remains on protecting healthcare and education, several tax adjustments have been introduced that will impact individuals and businesses across the province.Here are the most significant updates:1. Personal Income Tax AdjustmentsIncome Tax Rate Increase: The tax rate for the first income tax bracket will increase from 5.06% to 5.60%. For the average taxpayer, this represents an increase of ...

Dear Valued Client,We hope this message finds you well. As your trusted CPA, we want to keep you informed about recent changes that may impact your business. Starting in 2024, the British Columbia government has adjusted the Employer Health Tax (EHT) threshold, affecting businesses across the province.What’s New?The EHT threshold has been increased from $500,000 to $1,000,000. This means that businesses with annual remuneration below $1 million are exempt from ...