Budget 2018

[flamingfingers]

Urbane:
Do you mean the payroll tax?

EDIT: It is actually called "employer health tax'.... is that what you are talking about Urbane?

[Veovis]

Curious question.

How will it be known if houses are left vacant?

If your neighbor goes on vacation but you hate them can you report it "vacant", will they hope for people to state such on tax returns, will it be a municipal cost burden to do the NDP's bidding?

I'm honestly curious how it is supposed to work. I think homes should be lived in but how is this done?

[rustled]

The timing of the new tax on business is certainly problematic given the increases in the minimum wage that are being rolled out. Some of us were wondering if the government would run a deficit or raise taxes and now we have the answer. Hopefully things will magically work out but business is the engine that makes our economy run. Therefore, making life more difficult for business doesn't strike me as a wise move.

The health tax looks like a mixed bag for employers, depending on what their payroll is and whether or not they previously paid their employees' MSP.

The carbon tax... well, what can we say. Anything that makes it more difficult to compete can't be helpful. Eliminate the PST on electrical, up the carbon tax, what's the bottom line? Probably varies from business to business.

[Urbane]

Urbane:
Do you mean the payroll tax?

EDIT: It is actually called "employer health tax'.... is that what you are talking about Urbane?

Yes. I don't recall Horgan mentioning an "employer health tax" during the campaign. Do you? The carbon tax was increased as well of course.

[Urbane]

The health tax looks like a mixed bag for employers, depending on what their payroll is and whether or not they previously paid their employees' MSP.

The carbon tax... well, what can we say. Anything that makes it more difficult to compete can't be helpful. Eliminate the PST on electrical, up the carbon tax, what's the bottom line? Probably varies from business to business.

True enough. It may take time to sort out some of the ramifications.

[Snman]

•Starting Jan. 1, 2019, employers with payrolls of more than $500,000 will pay a new employer health tax, which is forecast to raise $1.9 billion in revenue in 2019-20.

Can someone explain what this is taxation on? Looks like money out of employers pockets, and lay offs, to me. Anyway, I honestly don't understand what it means. $500k in payroll is peanuts.

[rustled]

•Starting Jan. 1, 2019, employers with payrolls of more than $500,000 will pay a new employer health tax, which is forecast to raise $1.9 billion in revenue in 2019-20.

Can someone explain what this is taxation on? Looks like money out of employers pockets, and lay offs, to me. Anyway, I honestly don't understand what it means. $500k in payroll is peanuts.

Not much detail yet. Some here:
https://biv.com/article/2018/02/busines ... ayroll-tax

but nothing about what's included as "payroll" in the $500k, etc.

[flamingfingers]

Urbane wrote:

Yes. I don't recall Horgan mentioning an "employer health tax" during the campaign

I did hear mention of a 'payroll tax' but I don't feel like churning through 10 months' worth of interviews, press releases etc to find it. HOWEVER, it should not affect any employers as I was assured in earlier forum discussions that virtually all employers paid for their employee's MSP premiums.

For businesses, the most significant new measure is the replacement of MSP premiums with a 1% to 2% payroll tax that will be paid by employers.

Employers who currently cover their employees' MSP premiums may feel little impact, but for those businesses that don't cover MSP premiums, it amounts to a new business tax.

https://biv.com/article/2018/02/bc-busi ... ial-budget

[Snman]

I wish my employer paid for MSP premiums. I know some unions cover them for their members.

[rustled]

I wish my employer paid for MSP premiums. I know some unions cover them for their members.

Some non-union employers, too.

[flamingfingers]

I wish my employer paid for MSP premiums. I know some unions cover them for their members.

They will soon.

[alanjh595]

Curious question.

How will it be known if houses are left vacant?

If your neighbor goes on vacation but you hate them can you report it "vacant", will they hope for people to state such on tax returns, will it be a municipal cost burden to do the NDP's bidding?

I'm honestly curious how it is supposed to work. I think homes should be lived in but how is this done?

That's a good question. In my neighbourhood 35% go away for 6 months every year.

[bob vernon]

Leftist, job killing, union-loving, job-killing, creating a socialist hell.

[Veovis]

SO it should therefore count as a taxable benefit still as it is health costs paid on behalf of the employee.

What a mess. What incomes apply too? All, some what benefits apply? and on and on and on.

For this budget this is currently a made up tax with Xbillion forecast to come in and a year to actually figure out if they can do it. Why 100% employer tax? Why do they owe other peoples benefit costs? Why do individuals making a certain amount get exempt? CEO's will now get 100% dividend Income I can bet to lower the tax on wages, and on and on.

There is simply zero chance this has been well planned or implemented, it's a money wish from the age old "GET THEM!" NDP logic, and entirely made up of chickens that haven't yet hatched. Heck they didn't even bother to wait for the egg to get layed to count these chickens.

Other items sound good, but this employer tax is top form for the NDP.

[flamingfingers]

As an employee whose employer has not paid MSP your income will increase slightly, so your tax rate will increase slightly. Due to the fact that you no longer have to pay full rate for MSP yourself.

If your employer has been paying for your MSP your income will not vary.

Trying to make a BIG deal of this which will affect very few businesses over $500K is a muggs' game.