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A tax bracket is a range of annual taxable income. Income past a certain point is taxed at a higher rate. The tax brackets are indexed each year to the Consumer Price Index for B.C. (BC CPI). For the 2024 tax year, the tax brackets were increased from the previous year by a BC CPI rate of 5.0%.
- Tax Credits
Refundable and non-refundable tax credits. Tax credits can...
- Forms and Publications
B.C. Personal Income Tax Forms and Publications. Bulletins....
- Reporting & Paying Tax
How to file. You file your B.C. income tax return with your...
- PST
Generally, the rate of PST is 7% on the purchase or lease...
- Tax Credits
The tax rates in British Columbia range from 5.06% to 20.5% of income and the combined federal and provincial tax rate is between 20.06% and 53.5%. British Columbia's marginal tax rate increases as your income increases so you pay higher taxes on the level of income that falls into a higher tax bracket.
BC 2024 and 2023 Tax Rates & Tax Brackets. The BC tax brackets and personal tax credit amounts are increased for 2024 by an indexation factor of 1.05 (5% increase). The Federal tax brackets and personal tax credit amounts are increased for 2024 by an indexation factor of 1.047 (4.7% increase).
2024 Taxable Income (1)Bc 2024 Marginal Tax ...(other Income)Bc 2024 Marginal Tax ...(capital Gains)Bc 2024 Marginal ...(canadian Dividends)first $47,93720.06%10.03%-9.60%over $47,937 up to $55,86722.70%11.35%-5.96%over $55,867 up to $95,87528.20%14.10%1.63%over $95,875 up to $110,07631.00%15.50%5.49%- Voluntary Disclosure
- Audits
- Appeals
If you would like to make a voluntary disclosure because you haven’t charged, collected, remitted or paid PST as required, contact us to disclose the liability. For further information on voluntary disclosure, refer to the Small business guide to PST.
We conduct audits to identify and collect unpaid provincial revenue. Learn more on our Audits for PST page and in this publication, Audits (CTB 003) (PDF, 208KB).
If you believe an error was made in an assessment, a disallowed refund or other decision we made, you may be able to appeal. Learn more on our Appeals for PST page and in this Appeals publication (GEN 002) (PDF, 167KB).
Dec 2, 2023 · BC tax brackets are added to federal tax brackets to determine the total amount of income tax you’ll pay. For 2024, the highest combined marginal tax rate is 53.5% on every dollar you make over $252,752. The lowest marginal tax rate is 20.06% on the first $47,937 you make.
In the province of British Columbia, your tax rate can be as low as 5.06%, if your annual income is $45,654. And as high as 20.5%, if your income is over $240,716. How to calculate tax in British Columbia?
British Columbia. Yukon. Northwest Territories. Nunavut. Previous year income tax rates. Select the tax year. + 2023. Select "Federal" or your province or territory. Federal. Newfoundland and Labrador. Prince Edward Island. Nova Scotia. New Brunswick. Quebec. Ontario. Manitoba.
