A maximum 20-per-cent home-flipping tax is among new regulations taking effect in British Columbia as of Jan. 1, with a promised middle-income tax cut arriving in the coming months as well as a spring carbon tax increase.
Premier David Eby said Tuesday the middle-income tax cut he promised during last fall’s election campaign would help form the New Democrat government’s agenda in the new year.
“I have heard that you want our government to work harder to tackle the issues that you and your family are talking about around the kitchen table,” he said in a statement. “That is our focus for 2025 and beyond.”
Eby said during the election campaign the tax cut of up to $1,000 would initially come as a rebate in 2025, followed by the exemption of an additional $10,000 of individual income from provincial tax every year after that. That would represent a tax cut …