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 – Updated (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 […]