A new month is around the corner, and so are some tax increases.
Starting April 1, it will get more expensive to fill up your vehicle in BC and pay for beer, wine, and other alcohol.
In just a few days, the carbon tax will increase by about three more cents per litre of gasoline. That brings the total amount of carbon tax per litre to 14.31 cents.
Plus, depending on where you live in the province, there are other taxes added to that mix as well. People who fill up in Vancouver already pay about 38 cents per litre in provincial taxes — even before this upcoming increase.
And this won’t be the last time drivers will see a jump at the pump.
“This means that every litre of gas will rise by 3 cents for every $15 per tonne increase each year… until it reaches $170 in 2030 – aligning with federal requirements,” BC’s Ministry of Finance told Daily Hive about the predicted three-time increase over the next seven years.
Meanwhile, because of the federal government’s annual excise tax adjustment, Canadians are set to pay slightly more for liquor.
By law, the excise tax adjusts every year on April 1 according to the Consumer Price Index (aka inflation).
This year, because inflation has been so high, the federal excise tax on alcohol is going up by 6.3%.
This increase is only to the tax itself — not the entire cost of the product.
Late last week, FortisBC announced customers are set to get a break on their bills this spring.
Additionally, to offset the ongoing impacts of global inflation many British Columbians can expect some extra cash in their bank accounts.
The upcoming BC Affordability Credit payment in April will provide as much as $164 per adult and $41 per child, or approximately $410 for a family with two children, according to the Province.
Around 85% of British Columbians will receive an additional full or partial payment as early as April 5, 2023, just like they got January’s BC Affordability Credit.
If you’re a British Columbian eligible for the credit, you’ll get it automatically.