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December 22, 2005

BC Personal Income Tax - 2006 Indexed Amounts

The Income Taxation Branch of the Ministry of Small Business and Revenue, Government of British Columbia, has updated information on its web site concerning Personal Income Tax TONI in 2006.


In the 2006 taxation year:

- 2006 tax brackets are indexed;

- indexing of credits and tax brackets is based on the Consumer Price Index for British Columbia (BC CPI) for the 12 month period ended on September 30, 2005 (see below);

- various non-refundable tax credits are indexed (see 2006 Non-Refundable Tax Credit Block);

- the BC CPI used to calculate 2006 amounts was 2.1%; and

- the tax credit for charitable donations in excess of $200 is calculated at the highest rate of tax - 14.7%.

For more information see the Income Taxation Branch What's New page at:
http://www.rev.gov.bc.ca/itb/whatsnew.htm

Posted by Taxes.ca Editorial Team [permalink]

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