BC Budget 2017, September Update – Tax Measures

BC Finance Minister Carole James has released a budget update which contains several important tax measures for individuals and corporations, namely: (1) the introduction of a new 16.8% rate on taxable income over $150,000 for individuals (increased from 14.7%); (2) a reduction of the small business corporate income tax rate to 2% (from 2.5%); and (3) an increase in the general corporate income tax rate to 12% (from 11%).