Employer health tax costing taxpayers
The new NDP minority government has brought in a new health employer tax, effective Jan. 1, 2019. This tax is to offset the elimination of B.C. Medical Services premiums. This tax applies to all B.C. employers with a yearly payroll of more than $500,000.
To show the harm done to taxpayers from this tax, I am using the City of Vancouver as a example. Total payroll for the City of Vancouver in 2017 was $499,640,956. Total payments made to B.C. Medical Services was $4,841,035. The new payroll tax is 1.95 per cent of the total payroll. This new tax is $9,742,998 based on 2017 total payroll. This is a increase of $4,901,963 or 101.1 per cent which must be paid. The City of Vancouver have no other option except to raise property taxes to cover this added expense.
Once again proves that the NDP did not do their homework on this new tax, once again showing why Saskatchewan, Manitoba, Ontario, Nova Scotia, and soon to be Alberta, have said good bye to NDP governments. Unbelievable!