Additional School Tax Rate - Province Of British Columbia

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Additional School Tax Rate - Province Of British Columbia. If you own a high value residential property, you may also have to pay the additional school tax rate. School tax exemptions and refunds (approved and eligible hydroelectric power projects) regulation, bc reg 144/2005.

0.2% on the residential portion assessed between $3 million and $4 million We’re going to help break down the school tax and what it means for british columbians moving. $3,859 × 0.31 = $1,196.29. Prime minister stephen harper has signed into law legislation that enacts the hst. It was initially set at 3%, but later rose to 7%. Bc assessment determines if the additional school. Link to consolidated regulation (pdf) school act. 0.2% on the residential portion assessed between $3 million and $4 million. If you own a high value residential property, you may also have to pay the additional school tax rate. As announced in the province's 2018 budget, this additional school tax will be applied to all residential properties in the province valued at $3 million and above, including:

Act means the school act; Generally, these rates decrease each year as average values within a property class rise faster than inflation. Over $98,040, up to $151,978 and within the upper income tax bracket are subject to a 6% tax rate. Provincial sales tax (pst) the former british columbia provincial sales tax (pst) was introduced on 1 july 1948 as part of the social service tax act. Please select one less than or equal to. Fraser on april 3, 2020. It was initially set at 3%, but later rose to 7%. School tax exemptions and refunds (approved and eligible hydroelectric power projects) regulation, bc reg 144/2005. Age amount tax credit (65+ years of age) age amount tax credit reduced when income exceeds: If you have income between $98,040 and $98,020, the tax rate is 5%. Section 106.2 of the school act regulation, bc reg 11/2006.