Eby says more than 90 per cent of British Columbians to benefit from tax cut promise

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This article was published 29/09/2024 (436 days ago), so information in it may no longer be current.

SURREY, B.C. – New Democrat Leader David Eby, speaking before his largest crowd of the provincial election campaign, says he’s making a tax relief election promise that will benefit more than 90 per cent of people in British Columbia.

The NDP would implement an annual tax cut of $1,000 for the average family starting next year if the party forms government on Oct. 19, Eby said Sunday at a packed campaign event in Surrey, B.C.

The plan will exempt $10,000 of individual income from annual taxes every year, which will reduce taxes by more than $1,000 for most households and more than $500 for individuals, he said.

It means, Eby said, people will not pay provincial income tax on the first $22,580 of their earnings.

He said the plan would provide $1,000 in relief immediately.

“A $1,000 tax cut the year after that, the year after that and the year after that,” said Eby.

The NDP leader’s tax relief promise comes less than one week after B.C. Conservative Leader John Rustad promised, if elected, a tax relief plan for renters and homeowners that would exempt housing costs from provincial income taxes.

Rustad’s plan, which he called the Rustad Rebate, would start in 2026 at $1,500 and grow to exempt up to $3,000 a month in housing costs from provincial income taxes in 2029.

Eby said Rustad’s plan is back loaded, meaning people in B.C. wouldn’t see support next year and wouldn’t be eligible for the full benefits until 2029.

This report by The Canadian Press was first published Sept. 29, 2024.