Get ready to pay more
Posted April 1, 2012 7:02 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Today we have to dig deeper to fill up, go to Vancouver Island and turn on the lights. There are several big tax hikes and rate increases around B.C.
The average B.C. Hydro customer will pay $70 more a year starting this month, B.C Ferries fares are now up four per cent and it’s two-cents-a-litre more to gas up in Metro Vancouver thanks to TransLink.
Jordan Bateman with the Canadian Taxpayers Federation feels it’s fitting it all happens today.
“I think it’s appropriately timed for April Fool’s Day because a lot of taxpayers are feeling like fools. The amount of money coming out of our pockets is unbelievable as it is, and now you’ve got all these increases. It’s hurting a lot of families. People are concerned how they are going to make ends meet.”
Bateman says they’ve talked to hundreds of people who have put their retirement plans and educational planning on hold just to get by.
But it’s not all bad news. There’s some relief today for new home owners and first time buyers as the HST rebate goes up from $250,000 to $850,000.
Purchasing a new home could mean up to $42,000 coming back from the government. If it’s your first home, and it’s new, buyers will also be able to get an addition bonus of up to $10,000.
A new BC Seniors’ Home Renovation Tax Credit of up to $1,000 annually is also available to help with home renovations.
