Newspaper article The Canadian Press

Benefits like Employer Tips and RRSP Contributions to Be Part of B.C. Health Tax

Newspaper article The Canadian Press

Benefits like Employer Tips and RRSP Contributions to Be Part of B.C. Health Tax

Article excerpt

Some tips and bonuses part of B.C. health tax

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VICTORIA - The British Columbia government has released the fine print on its new employer health tax as it diverts the cost of medical services plan premiums away from individuals.

The tax notice says the annual payroll tax will apply to employers starting in January 2019 and will, among other things, cover salaries, bonuses, vacation pay, tips paid through an employer, and employer contributions to registered retirement savings plans.

The NDP government has already said employers with a B.C. payroll of more than $1.5 million will pay 1.95 per cent of their total payroll, while businesses with a payroll of between $500,000 and $1.5 million will pay 2.95 per cent after $500,000 is subtracted from that payroll amount.

Firms with a payroll at $500,000 and below won't pay the employer health tax, which the Finance Ministry says in a news release ensures that 85 per cent of businesses will be exempt. …

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