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  • Service: Tax, International Corporate Tax, Global Indirect Tax, International Executive Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 2/20/2013

Canada - Increased tax rates in 2013 British Columbia budget 

February 20: British Columbia Finance Minister Michael de Jong delivered the province’s 2013 budget.

The budget (delivered on 19 February 2013) contains measures to increase both corporate and individual (personal) tax rates.


  • The budget accelerates last year’s provisional 1% increase in the B.C. general corporate tax rate to 11% (from 10%). The increase will now take effect 1 April 2013—one year earlier than previously announced.
  • The small business corporate income tax rate will remain at 2.5%.
  • For individuals with income above $150,000* the budget introduces a new top tax rate. This tax increase is described as a temporary measure effective for two years beginning 1 January 2014. As a result, the top marginal B.C. income tax rate will increase to 16.8% (from 14.7%).

The budget does not contain any new information about the implementation of the new provincial sales tax (PST) in B.C. effective 1 April 2013.


Read a February 2013 report prepared by the KPMG member firm in Canada: 2013 British Columbia Budget Raises Tax Rates


*$=Canadian dollar




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