The Real Cost of Buying Luxury Cars in B.C.

Editor’s note: This article was originally published on November 16, 2020, and was updated on September 30, 2021 to show the impact of the proposed federal luxury tax. Having built a successful career or business, many high-income earners like to reward themselves by purchasing a luxury car.  However, the true-cost of buying a luxury car […]

2021 BC Residential Real Estate Tax Update

A reminder of some important due dates and key updates: Vancouver The Vancouver Empty Homes Tax declaration is due Tuesday February 2nd 2021 Every residential property owner must make a declaration on whether or not the property is subject to the Vancouver Empty Homes Tax or whether it is exempt. For 2020, a 1.25% tax […]

The Real Cost of Buying Luxury Cars in B.C.

Having built a successful career or business, many high-income earners like to reward themselves by purchasing a luxury car.  However, the true-cost of buying a luxury car in British Columbia can be 2 to 3 times the sticker price of the car once you consider the impact of personal income tax on your earnings, and […]

COVID-19 B.C. Government Announcements (March 30th, 2020)

On Mar 23, 2020, the B.C. government announced their Covid-19 Action Plan (updated on March 30th, 2020).  The plan provides $5 billion in income supports, tax relief and direct funding for people, businesses and services, and includes the following measures. Relief for Individuals B.C. Emergency Benefit for Workers – Updated! B.C. Climate Action Tax Credit […]

Changes to the BC Speculation and Vacancy Tax

Some good news – the BC government announced extensions to some temporary exemptions to the BC Speculation and Vacancy Tax (the “Spec Tax”) tax.  They also provided some clarity on other exemptions. What is the Spec Tax again?  It is a BC tax* that started in 2018 as part of BC’s housing affordability strategy to […]

BC Employer Health Tax

BC Employer Health Tax Summary

  BC’s new Employer Health Tax (“Health Tax”) is in effect now – as of January 1, 2019 For 2019 – the BC government is collecting BOTH the new Health Tax and 50% of the MSP premiums (it collected 50% of the premiums for 2018). MSP is completely phased out at the end of 2019. […]