Income Tax Measures - BC 2018 Budget

Insights
| 2/22/2018

Infirm Dependent Credit and Caregiver Credit Replaced with a New B.C. Caregiver Credit

The new B.C. Caregiver Credit is effective for 2018 and replaces the Infirm Dependent Tax Credit and the Caregiver Credit. This new non-refundable credit parallels the Canada Caregiver Credit and is available to individuals who care for an eligible adult relative who is dependent on the caregiver because of a mental or physical infirmity. The maximum credit amount is $4,556 per infirm dependent for 2018, providing a benefit of up to $230.53, and is indexed to inflation for future years.

Education Tax Credit

The B.C. Education Tax Credit will be eliminated effective for the 2019 and subsequent tax years. Any unused amounts carried forward from years prior to 2019 will remain available to be claimed in 2019 and in subsequent years.

British Columbia Mining Flow-Through Share Tax Credit

The British Columbia Mining Flow-Through Share Tax Credit is extended to the end of 2018.

Farmers’ Food Donation Tax Credit

The Farmers’ Food Donation Tax Credit is extended to the end of 2019.

Interactive Digital Media Tax Credit

The Interactive Digital Media Tax Credit is extended until August 31, 2023.

Book Publishing Tax Credit

The Book Publishing Tax Credit is extended until March 31, 2021.

Film Incentive B.C. Tax Credit Expanded to Scriptwriting

Effective for expenditures incurred on or after February 21, 2018, the Film Incentive B.C. Tax Credit is expanded to include scriptwriting expenditures on B.C. labour incurred by a corporation prior to the completion of the final script stage of the production. Prior to this change, only scriptwriting expenditures incurred after the final script stage were eligible for the tax credit.

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