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BC 2021 Budget TaxTips.ca
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British Columbia  ->   BC Budgets   -> Budget 2021

British Columbia COVID-19 Information and Support

COVID-19 Action Plan - Provincial Tax Changes

BC 2021 Budget - April 20, 2021

All budget proposals are subject to legislative approval.

Bill 4, Budget Measures Implementation Act, 2021 was tabled on April 19, 2021.

Forecast Budget Deficits

bullet2020-21 $8.1 billion
bullet2021-22 $9.7 billion
bullet2022-23 $5.5 billion
bullet2023-24 $4.3 billion

Total Provincial Debt Forecast

bulletMar 31, 2021 $87.5 billion
bulletMar 31, 2022 $102.9 billion
bulletMar 31, 2023 $116.2 billion
bulletMar 31, 2024 $127.0 billion

Personal Tax Credits

Effective Jul 1, 2021, the Climate Action Tax Credit rate remains at $174 per adult and $51 per child due to the delay in the carbon tax rate increases.

Rates will increase to $193.50 per adult and $56.50 per child on Jul 1, 2022.

BC Emergency Benefit for Workers

bulletEligibility to be expanded to include self-employed individuals if they would have qualified for the benefit or the Canada Emergency Response Benefit.
bulletSee BC Emergency Benefit for Workers on the BC website.

BC Recovery Benefit

bulletremains open for new applications until Jun 30, 2021.
bulletone-time, tax-free payment of up to 
bullet$1,000 for eligible families and single parents
bullet$500 for eligible individuals
bulletSee BC Recovery Benefit on the BC website.

Corporate Tax Credits

The book publishing tax credit is extended for 5 years to Mar 31, 2026.

Sales Taxes

bulletPST exemption for electric bicycles and tricycles and related conversion kits, parts and services - effective April 21, 2021.
bulletPST exemption for new residents' effects temporarily expanded: New residents of BC on or after March 11, 2019 now have until the earlier of
bulletJan 1, 2023, or
bullet1 year following the end of the most recent quarantine order made under the Quarantine Act (Canada)
bulletPST refunds will be eliminated for motor vehicles purchased in B.C. and resold within 7 days - date to be set by regulation
bulletClarification that the exemption for water does not apply to beverages taxed under the soda beverage measures announced in Budget 2020.

Motor Fuel Tax, Carbon Tax, Tobacco Tax

bulletFuel tax refund program for persons with disabilities - expanded effective Apr 20, 2021 to include persons who receive:
bulletDisability assistance or a supplement from Indigenous Services Canada through the Social Assistance for Persons with Disabily program
bulletA 100% disability pension through service as a member of Her Majesty's forces, whether or not they served in a war.
bulletCarbon tax rates:
bullet$45 per tonne of CO2e effective Apr 1, 2021
bullet$50 per tonne effective Apr 1, 2022
bulletTobacco tax rates will increase effective July 1, 2021.

For information on all tax changes see BC Provincial Budget Tax Changes.

Other Measures

Free public transportation for children 12 and under starting September 2021, on:

bulletall BC Transit and TransLink transportation including
bulletbuses
bulletSkyTrain
bulletCanada Line
bulletSeaBus
bulletWest Coast Express, and
bulletHandyDART

The above does not include all fiscal measures.  See Budget 2021 on the BC website for complete budget details.

Revised: May 18, 2021

 

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