Incorporating in BC Cuts Your Tax Rate to About 11 Percent. Here Is the Real Cost to Get There.
Key Takeaways: At a Glance A BC-incorporated CCPC pays about 11 percent combined (9 percent federal plus 2 percent BC) on the first $500,000 of active business income kept in the corporation. Incorporating in BC costs $380 in government fees: $350 to file the...
Contractors Pay PST on Materials. Interprovincial Truckers Often Don’t.
Key Takeaways: At a Glance BC PST is 7 percent, administered by the BC Ministry of Finance, separate from GST/HST. Contractors who install materials into real property generally pay PST when they buy those materials. They do not usually charge it again to the...
Canadian Tax Brackets 2026: Your Complete Guide to Rates Changes
Key Takeaways: At a Glance New 2026 Federal Changes: The lowest federal tax bracket rate is now a full 14% for the entire year, no longer a blended rate. Basic Personal Amount: You can earn up to $16,452 federally before paying any income tax. Inflation Adjustment:...
5 Tax Mistakes BC Veterinarians Make Every Year, and How to Fix Them
Grab coffee, tick the checklist, and never pay these again. 1. Paying PST on Exempt Medical Devices Mistake: Supplier invoices surgical plates, suture packs, even epidural catheters as “PST-taxable” and you pay it. BC rule: Items “Goods Designed to be Implanted in or...