Minimum Wage Hike Announced
Prince George, B.C.- Effective, Sept. 15th the Minimum wage in B.C. will see the first of two increases, with the first boost of 40 cents an hour to bring the minimum wage to $10.85.A second increase of 30 cents an hour plus an amount based on the 2016 CPI (estimated to be 10 cents) will bring the minimum wage rate to $11.25, effective Sept. 15, 2017.
Premier Christy Clark made the announcement this hour, saying the increase is higher because the Province has a better economic performance “We are in the fastest growing economy and with an economy growing this fact, we should make sure people working in our province benefit from that growth.”,
Clark also announced a reduction in the small business tax by 40% by the fiscal year of 2017/18 . This would mean a small business that is incorporated with $100,000 in active business income would have its taxes go from $2,500 to $1,500, savings of $1,000 annually.