Thursday, April 1, 2021

No April fools Prank this, range of new tax increases in place today in British Columbia

Today may be another day
for the Premier to stay away 
from Social media as a range
of new tax measures go into effect
 
As a surprise to no one perhaps, the Provincial Government is keeping a low profile when it comes to the roll out of a range of new tax increases, most of which go into effect across British Columbia today,. 

With April First making for the day chosen for us to dig a little deeper for many of the day to day needs and services.

Whether you drink it, fill it up, earn it or watch it, there's seemingly a tax increase for everyone to be found today!

All of them approved last year but put on pause last September, the increases delayed until today owing to COVID (and maybe a provincial election campaign perhaps eh?), with much of the increase to be found through the application of the province's 7% provincial sales tax.

You will now find that your fondness for sugary or sweetened drinks will come with an additinal cost with the provincial sales tax now to be collected on those beverages. 

If you like to relax to a little Netflix or other video or music streaming services you will be paying the Sales Tax on those pursuits as well as of today.

New to vaping, all business that sell those products are charing an additional amount today as the PST is now required for those purchases.

Driving a vehicle or looking to boost the thermostat around the house, dig deeper as of today, new levels of taxation are now in place for gasoline, diesel and natural gas.

And new income tax rates go into effect today , though that of more interest to those at the top end of British Columbia's income scale than most of us at the other end of the spectrum.

The provincial government is also pushing up the price point of the carbon tax, with the Canadian Taxpayers Federation noting that it will add 9.9 cents to a litre of gasoline, 12 cent to a litre of Diesel and 8.8 cents to a cubic metre of natural gas.

The range of taxation measures came from the 2020 Provincial budget, revist those grand days of the big reach into your bank account from our notes of the day.

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