Close X
Monday, November 25, 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

    SEE PICS: Justin Trudeau's Son Hadrien Trudeau Arrives To Steal The Show On Indian Social Media

    SEE PICS: Justin Trudeau's Son Hadrien Trudeau Arrives To Steal The Show On Indian Social Media
    Hadrien Did His Best To Steal The Show, Making Off Down The Red Carpet With The Flowers Handed To His Father By An Indian Official, Leaving The Rest Of His Family To Manage The Receiving Line.

    SEE PICS: Justin Trudeau's Son Hadrien Trudeau Arrives To Steal The Show On Indian Social Media

    Namaste India: Justin Trudeau Arrives In New Delhi With Family For Week-Long State Visit

    Namaste India: Justin Trudeau Arrives In New Delhi With Family For Week-Long State Visit
    The seven-day Indian state visit is a mix of business meetings, round tables on education, women’s rights and human rights, tours of popular Indian sites and a meeting with Indian Prime Minister Narendra Modi.

    Namaste India: Justin Trudeau Arrives In New Delhi With Family For Week-Long State Visit

    Sentencing Hearing For Former Surrey Sikh Temple President Baldev Singh Kalsi

    Sentencing Hearing For Former Surrey Sikh Temple President Baldev Singh Kalsi
    Baldev Singh Kalsi, former president of Gurudwara Sahib Brookside temple, who was charged with attempted murder of his wife, Narinder Kalsi, is facing his sentencing hearing

    Sentencing Hearing For Former Surrey Sikh Temple President Baldev Singh Kalsi

    Calgary's Mayor Naheed Nenshi Says To Ignore John Horgan Over Trans Mountain

    Calgary Mayor Naheed Nenshi says the right strategy in the dispute between Alberta and B.C. over the Trans Mountain pipeline expansion is to ignore Premier John Horgan.

    Calgary's Mayor Naheed Nenshi Says To Ignore John Horgan Over Trans Mountain

    Property Crime Down, Violent Crime Up In Vancouver

    Property Crime Down, Violent Crime Up In Vancouver
    Vancouver police say there was a 1.5 per cent decrease in the overall crime rate last year in the city compared with 2016 but the violent crime rate was up 1.9 per cent.

    Property Crime Down, Violent Crime Up In Vancouver

    Man Dies After Being Caught In Southeastern B.C. Avalanche On Feb. 9

    A news release from RCMP says the unnamed victim was being treated in a Calgary hospital but could not be saved

    Man Dies After Being Caught In Southeastern B.C. Avalanche On Feb. 9