By Canadian Press

Eby says more than 90 per cent of British Columbians to benefit from tax cut promise

Sep 29, 2024 | 3:38 PM

SURREY, B.C. — New Democrat Leader David Eby says he’s making a tax relief election promise that will benefit more than 90 per cent of people in British Columbia.

He says the NDP would implement an annual tax cut of $1,000 for the average family starting next year if elected to form government on Oct. 19.

Eby says the plan will exempt $10,000 of individual income from annual taxes every year, which will reduce taxes by more than $1,000 for most households and more than $500 for individuals.

Eby’s tax relief promise comes less than one week after B.C. Conservative Leader John Rustad promised, if elected, a tax relief plan for renters and homeowners starting at $1,500 per month in 2026 and peaking at $3,000 per month in 2029.

Rustad’s plan, which he calls the Rustad Rebate, will exempt up to $3,000 per month of rent or mortgage interest costs from provincial income taxes.

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Eby, speaking at a campaign event in Surrey, says Rustad’s plan is back loaded, meaning people in B.C. will not see the support next year and won’t be eligible for the full benefits until 2029.

This report by The Canadian Press was first published Sept. 29, 2024.

The Canadian Press