BRITISH COLUMBIA – In 2021, our members approved a policy resolution seeking this change [find it here] and we have advocated many times for the provincial government to act.
The EHT is a tax on hiring and job creation that hits small businesses, the backbone of the provincial economy, once their total payroll surpasses $500,000. With wage inflation and other cost increases since the EHT was first introduced, the need to raise the threshold is even more urgent than it was two years ago.
Only five provinces have a similar tax to the EHT and four offer exemption thresholds. British Columbia’s threshold is the lowest of those four by a significant amount: Manitoba’s is $1.5 million, Newfoundland’s is $1.3 million and Ontario’s is $1 million.
The BC Chamber or Commerce will continue to be a vocal advocate for reducing the costs of doing business in British Columbia.”
Business Examiner Submitted