British Columbia finance minister tables balanced budget
British Columbia finance minister Mike de Jong has tabled a balanced budget that will see a surplus of $175 million this year rising to $451 million by the 2016-2017 fiscal year.
"It may not be glitzy or chock full of goodies, but it is the right plan for British Columbia,'' he said.
From a payroll perspective, the biggest item of note is the budget proposes to increase the premium rate for the Medical Services Plan (MSP), effective Jan.1, 2015. Premiums for a single person would rise from $69.25 per month to $72. The maximum premium for a family of two would increase from $125.50 per month to $130.50 and for a family of three or more it would increase from $138.50 per month to $144.00.
The budget did not propose any changes to personal income tax rates or tax brackets.
"It may not be glitzy or chock full of goodies, but it is the right plan for British Columbia,'' he said.
From a payroll perspective, the biggest item of note is the budget proposes to increase the premium rate for the Medical Services Plan (MSP), effective Jan.1, 2015. Premiums for a single person would rise from $69.25 per month to $72. The maximum premium for a family of two would increase from $125.50 per month to $130.50 and for a family of three or more it would increase from $138.50 per month to $144.00.
The budget did not propose any changes to personal income tax rates or tax brackets.
