Several tax hikes could make life more expensive in the new year.
The Canadian Taxpayers Federation says the replacement of the Medical Services Premiums with the new Employer Health Tax, will have a cascading effect across the province, putting a chill on new hiring and pay raises
The provincial government has said eliminating Medical Services Plan premiums will result in a net tax decrease of about $800 million per year for British Columbians. Families could save as much as $1,800, and individuals could save up to $900 each year.
The federation also pointed to other taxes expected to increase in 2019, such as the school tax, and with the carbon tax leaping from $35 per tonne to $40 per tonne on April 1, 2019. The increase will tack 8.89 cents onto every litre of gasoline bought in B.C.
