British Columbia Tax Rates

British Columbia Tax Rates 2014 2015
5.06% Tax applies to income under $37,606 $37,869
7.7% Tax applies to income between $37,606 & $75,213 $37,869 & $75,740
10.5% Tax applies to income between $75,213 & $86,354 $75,740 & $86,958
12.29% Tax applies to income between $86,354 & $104,858 $86,958 & $105,592
14.7% Tax applies to income between $104,858 & $150,000 $151,050 & up
16.8% Tax applies to income above $151,050

Venture capital tax credit

The maximum credit that can be claimed for venture capital is $60,000 per year. The taxpayers who have purchased shares from a registered British Columbia Venture Capital Corporation will receive Form SBVC 10, which shows the date you bought your shares under “Investment date”. If the tax credit is more than $60,000, any excess can be carried forward for up to four years. The credit is used to reduce federal and provincial taxes and any excess is refundable to taxpayer.

British Columbia Non-Refundable Tax Credits

British Columbia Non-Refundable Tax Credits 2014 2015
Basic Personal Amount $9,869 $9,938
Spousal / Eligible Dependant $8,450 $8,509
Age Amount $4,426 $4,457
Disability Amount $7,402 $7,454
Disability Amount Supplement for taxpayers under 18 $4,318 $4,349
Caregiver Amount $4,318 $4,349
Infirm Dependant Amount $4,318 $4,348
Children’s Fitness Amount $500 $500
Children’s Arts Amount $500 $500
Pension Income Amount $1,000 $1,000
Tuition Credit Actual Actual
Education (Full-time) $200/month $200/month
Education (Part-time) $60/month $60/month