On February 18, 2020, Finance Minister and Deputy Premier Carole James tabled British Columbia’s 2020 budget. This budget sees the province experiencing strong economic growth and making significant investments in various social and economic areas.
From a fiscal perspective, the province continues to project surpluses over the next three years as follows:
Although most of the tax changes in Budget 2020 are relatively minor, one significant change includes a new top tax bracket for individuals in BC at 20.5%. There are also several changes to various sales tax measures included in this budget.