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17 February 2016

British Columbia budget 2016-17 discussed

British Columbia Finance Minister Michael de Jong tabled the province's fiscal 2016-17 budget on February 16. The budget contains several tax measures affecting individuals and corporations. The minister anticipates a surplus of $264 million for 2016-17, and projects surpluses for each of the next three years. Budget 2016 establishes the B.C. Prosperity Fund, with an inaugural commitment of $100 million from the forecasted 2015-16 surplus. The fund is intended to be a long-term legacy to help eliminate British Columbia's debt over time and to make investments in healthcare, education, transportation, family support and other priorities that provide future benefits to British Columbia.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.

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Document ID: 2016-0331

 

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