BC Finance Minister Carole James delivered the province’s 2017 budget update on Sept. 11, 2017. The budget anticipates a surplus of $46 million for the current year, $228 million in 2018-2019 and $257 million in 2019-2020. As a result of the provincial election on April 11, 2017, the measures previously announced were not fully enacted.
Here’s the new budget proposals:
For first time home buyers to save property transfer tax on the purchase of their property the partial exemption has been increased to $500,000 from $475,000.
To learn how these changes will affect you, please don’t hesitate to contact us.
Merk Financial Group
1188-1095 West Pender Street
Vancouver, BC V6E 2M6