VANCOUVER, B.C.: The Canadian Taxpayers Federation released its annual New Year’s Tax Changes report to highlight the major tax changes in British Columbia and across the country in 2023.

“Tax hikes will give British Columbians a hangover in the new year,” said Carson Binda, B.C. Director with the CTF. “Taxpayers can’t afford gas or groceries and politicians are making things worse by hiking taxes.”

The report outlines the major tax changes from the federal and provincial governments in 2023. The B.C. government’s tax hikes include:

• The carbon tax is increasing by three cents per litre of gasoline to 14 cents per litre on April 1, 2023, on top of a second carbon tax that already costs about 17 cents per litre of gas.

• B.C. drivers will pay higher taxes on the private sale of used vehicles thanks to new taxation rules, which kicked in on October 1, 2022.

• Premier David Eby has promised to raise taxes on homes sold within two years of purchase, which will increase the price of homes in B.C. The new tax will have a sliding scale. The faster you sell your home, the more taxes you pay. The tax gradually decreases to zero after two years of ownership. 

In addition to provincial tax hikes, workers making $40,000 or more will pay higher federal income-based taxes in 2023 due to rising payroll taxes. 

The federal government is also increasing liquor taxes by 6.3 per cent on April 1, 2023. Taxes already account for about half of the price of beer, 65 per cent of the price of wine and more than three quarters of the price of spirits.

“Premier David Eby and Prime Minister Justin Trudeau should be providing relief, not hiking taxes,” said Binda. “These politicians need to stop wasting so much money and give taxpayers a break.”

You can find the CTF’s 2023 New Year’s Tax Changes report here. 

-30-