Close X
Friday, November 29, 2024
ADVT 
National

B.C. Businesses Say New Health Tax Will Raise Prices For Consumers

The Canadian Press, 22 Feb, 2018 01:16 PM
    VANCOUVER — Small business owners in British Columbia say a new health-care payroll tax will result in higher prices for consumers as companies struggle to absorb the cost.
     
     
    The NDP government announced in this week's budget that it would be phasing out medical services premiums by 2020 and instead will have an employer health tax of 1.95 per cent for companies with a payroll tax over $1.5 million.
     
     
    Eric Pateman, president of the Vancouver restaurant Edible Canada, says the tax will add about $30,000 to his annual payroll costs of roughly $1.5 million.
     
     
    He says with profit margins in the restaurant industry range between three to four per cent and there is little room to absorb significant labour cost increases, meaning prices will have to go up for consumers.
     
     
    Al Hasham, owner of Maximum Express Courier in Victoria, says even small tax increases of one to two per cent stifles the growth of businesses, leading to staffing cuts or higher prices.
     
     
    Finance Minister Carole James says only five per cent of businesses will be paying the full tax rate and those covering the existing health premiums for their employees will see savings as the fees are cut in half and then eliminated.

    MORE National ARTICLES

    Environment Canada Says Snow Coming To B.C. South Coast Tuesday

    Environment Canada Says Snow Coming To B.C. South Coast Tuesday
    Arctic air settling over British Columbia this week is expected to bring snow to the South Coast.

    Environment Canada Says Snow Coming To B.C. South Coast Tuesday

    Comedians Seek Safe Spaces To Joke, Not Offend

    Comedians Seek Safe Spaces To Joke, Not Offend
    A no-harassment policy at a Winnipeg bar featuring amateur and emerging comics likely stirred more Twitter attacks than quelled off-colour show remarks, admits Winnipeg talent booker Tim Gray.

    Comedians Seek Safe Spaces To Joke, Not Offend

    Leading Legal Minds In B.C. Seek Anti-SLAPP Legislation To Halt Abusive Lawsuits

      The B.C. Civil Liberties Association has sent an open letter to Attorney General David Eby urging him to bring in effective legislation against what are known as strategic lawsuits against public participation, or SLAPP.

    Leading Legal Minds In B.C. Seek Anti-SLAPP Legislation To Halt Abusive Lawsuits

    Avalanche Hazard In B.C. Closes Highways And Sets Off Special Warning

    Several highways were closed for much for the day Thursday because of the high avalanche threat above the route, including Highway 1 from Revelstoke to Golden.

    Avalanche Hazard In B.C. Closes Highways And Sets Off Special Warning

    Two Arrested Following Trans Mountain Pipeline Protest In Coquitlam, B.C.

    RCMP say nine people were peacefully protesting Thursday but police were called in when the protesters began blocking equipment and highway traffic.

    Two Arrested Following Trans Mountain Pipeline Protest In Coquitlam, B.C.

    Single Racer Braves Freezing Temperatures To Finish Yukon Ultra-Marathon

    Single Racer Braves Freezing Temperatures To Finish Yukon Ultra-Marathon
    The cold was so persistent that about seven contestants had to drop out to seek medical attention for frostbite, he added.

    Single Racer Braves Freezing Temperatures To Finish Yukon Ultra-Marathon