Taxes

People living in B.C. should file (fill in and send) an income tax return (form) every year. This tells the government how much money you earned and how much tax you will pay. You must send your income tax returns to the Canada Revenue Agency (CRA). Your return shows your income tax for the year. If you earn a lot of money, you may pay more tax. If you earn less money, you may pay less tax. Your tax return helps you apply for tax credits and other benefits you may be eligible for. Residents of B.C. should file their returns using the B.C. income tax return package. Learn more about filing taxes in B.C. This CRA website has tax information for newcomers. 

Employers usually deduct (take) income tax from employees’ paycheques and pay it to the government. If your employer deducts too much, the CRA will return some money to you after you file your taxes. If your employer didn’t deduct enough, you may have to pay more. You must report any income from investments. You also must report income from outside Canada while you are a resident of Canada. Even if you did not earn any money in Canada, you should still file your return. You may be eligible to receive some credits and benefits.

You can file your income tax form in different ways. You can fill and print a tax form and send it by mail. You can file your tax form over the internet. Some computer programs charge a fee, and some are free. Find out more about the list of tax programs. You can also hire an accountant or a tax preparation company to file your taxes. Every year, the Community Volunteer Income Tax Program helps more than half a million Canadians file their income tax returns. This service is free. Learn more about ways you can file your taxes. 

The B.C. and Canadian governments charge tax on many of the things you buy. This is called “sales tax”. Sales tax is not included in the price of most items. It is added to your bill when you pay. There is no sales tax on necessary items like groceries and clothing.

People with low incomes may be eligible for tax credits (payments) from the B.C. and Canadian governments. Learn more about the B.C. sales tax credit. Learn more about the Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit. 

B.C. Home Owner Grant

The B.C. Home Owner Grant is a program that helps some people pay property tax on their home. The program is for people who:

• are the registered owner of the home
• are a Canadian citizen or permanent resident of Canada
• live in B.C.
• live in the home as their principal residence (main home)

Get more information and find out if you are eligible for homeowner grants. 

Property tax deferment program

If you cannot afford to pay your property taxes now, you can apply to defer your payments (pay them later). The property tax deferment program is a simple-interest loan program available to eligible B.C. homeowners. A simple-interest loan means you only pay interest on the amount you borrow. This program allows you to defer all or part of your property taxes until you can afford to pay them, you sell your home, or you transfer your home to someone else. Learn more about property tax deferment. 

When you register as an owner of a property in B.C., you must pay property transfer tax. You may be eligible for property transfer tax exemptions. 

Additional property transfer tax

If you are a foreign national, foreign corporation, or taxable trustee with an interest in residential property in certain areas of B.C., you must pay an additional property transfer tax.

The speculation and vacancy tax is a yearly tax based on how people use their residential properties. It applies in parts of B.C. where there are not enough homes for people to live in. Find more information about the speculation and vacancy tax. 

Find out if your property is in a speculation and vacancy tax area.

Canada Child Benefit

The Canada Child Benefit (CCB) is a monthly payment to help families with children under age 18. 

B.C. Family Benefit

The B.C. Family Benefit is financial support (money) for families with children under 18. You do not need to apply for the benefit. If your child is registered for the Canada child benefit, they’re automatically registered for the B.C. family benefit. No action is required.