British Columbia鈥檚 provincial budget for 2025 was presented on March 4, 2025. The 2025 budget does not include any new changes to the corporate or individual (personal) tax rates. However, there are measures in the budget that would:
- Increase the speculation and vacancy tax rates, effective January 1, 2026
- Exclude the Predator Ridge resort in the City of Vernon from the specified area for the speculation and vacancy tax
- Increase the non-refundable speculation and vacancy tax credit for residents of British Columbia to $4,000* (from $2,000)
- Provide that transfers of legal ownership of a property to certain First Nations are exempt from property transfer tax where the property is already beneficially owned by the First Nation
- Provide a new major production tax credit to production services tax credit claimants with British Columbia production costs greater than $200 million
- Expand the regional and distant location tax credits to allow animation productions with a brick-and-mortar presence in a regional or distant location to claim the supplemental credits
- Increase the interactive digital media tax credit to 25% (from 17.5%)
- Increase the basic film incentive British Columbia tax credit to 40% (from 35%)
- Increase the basic production services tax credit to 36% (from 28%)
Read a prepared by the 乐鱼（Leyu）体育官网 member firm in Canada
*$=Canadian dollar