Personal Finances
Tax Considerations

 

Individuals

Sales Taxes

British Columbia is returning to a Provincial Sales Tax (PST) and federal goods and services tax (GST) system on April 1, 2013.

The provincial government's return to the PST website offers more information on this transition for businesses and individuals.

Income Tax

Working British Columbians pay federal and provincial income tax, all managed by the Canada Revenue Agency. This site has information specifically for seniors.

Families

This Ministry of Finance website has information about the BC Family Bonus Program, and the Property Transfer Tax.

Residents of rural BC may also be eligible for the Low Income Climate Action Tax Credit.

Tax-free savings accounts

In 2009, the Government of Canada introduced tax-free savings accounts for Canadians.

Property tax

BC Assessment assesses the value of public and private property across British Columbia. These assessments are used by local governments to set property taxes. For information about property tax assessments, including appeals, check BC Assessment's Frequently Asked Questions page.

The B.C. government helps homeowners pay property taxes through the Homeowner Grant.

As of 2010, eligible homeowners may defer paying property taxes under the Property Tax Deferment program.

If you own a home in rural BC, you may be eligible for the Northern and Rural Area Homeowner Benefit of up to $200.

For information about the latest benefits and to register for updates about changes relating to property taxes, visit the Ministry of Finance’s What’s New webpage.