Winners and losers in Tuesday's B.C. budget

B.C. Finance Minister Mike de Jong, tables the province's third consecutive balanced budget on Tuesday as Premier Christy Clark (left) looks on. Photo courtesy The Canadian Press.

VICTORIA — The British Columbia Liberal government tabled its budget Tuesday. Here is a look at some of the winners and losers:

Winners — Starting Jan. 1, 2017, all children will be exempted from medical-service-plan premiums. Low income families, individuals and seniors will also benefit from lower premiums for those earning up to $51,000.

Winners — Those who buy newly-constructed houses and condominiums priced up to $750,000 are exempt from the property transfer tax.

Winners — Monthly disability income assistance rates go up by $77 per month, but that replaces monthly transportation subsidy for the one-third of those on disability who get the benefit.

Winners — Public-sector employees benefit from the improved economy by getting a dividend on wages of as much as $1,298 or .45 per cent that had been written into their last contract.

Losers — Another tax tier has been added to the property transfer tax. Those who buy property over $2 million will pay a three per cent tax on the cost above the $2 million threshold. The current tax of one per cent up to $200,00 and two per cent up to $2 million remains unchanged.

Losers —Government said it will work with the movie and TV industry to review the film tax credit as the lower Canadian dollar already offers a discount.

Losers — Someone who buys an older home under $750,000 still has to pay the transfer tax, unlike those who buy a newly built home.

Losers — With the exception of Quebec, all other provinces, territories and the federal government that aren't predicting a balanced budget.

More in News

Views from a refugee camp: Who gets into heaven?

I have just returned to Vancouver Island from Greek refugee camps where I met a Yazidi man named Jason who told me about his escape from ISIS in Iraq.   His story begins on a desert road where a...

Vancouver's bicycle sharing grows as 15 new stations installed

Mobi bicycle by Shaw Go in Vancouver. Photo by Christopher Porter from Flickr Creative Commons

International Women's Day Concert celebrates female musicians who turned tragedy into triumph

Every March 8, on International Women's Day, we hear about the achievements of brilliant, talented women around the world. But how often do we learn about the physical and mental disabilities or...
Speak up about this article on Facebook or Twitter. Do this by liking Vancouver Observer on Facebook or following us @Vanobserver on Twitter. We'd love to hear from you.