With a new year comes new changes to fees, regulations, and rules, and while half of the year is behind us now, there are still some notable things to take note of in B.C.
Here’s a list of what some of those things are, as well as a quick refresher of some of the recent changes that have already taken place.
A TransLink Compass Card user at SkyTrain’s Metrotown Station. (Mitch Hutchinson/Shutterstock)
B.C. Family Benefit
This month, B.C. families have one final opportunity to receive a bonus payment as part of the B.C. family benefit program.
According to the province, the maximum annual benefit parents may receive, including the bonus payment, is $2,188 for their first child, $1,375 for their second child, and $1,125 for each additional child. These amounts are adjusted based on net income for the 2023 tax year. You’ll receive the maximum annual benefit if you have an adjusted family income of less than $35,902 for the 2023 tax year.
If your income is between $35,902 and $114,887, or over $114,887, you’ll receive a reduced amount of $969 for your first child, $937 for your second child and $906 for each additional child. For families making over $114,887, “amounts are reduced by four per cent of the portion of adjusted family net income over $114,887 until they are reduced to zero,” B.C. says.
Minimum wage
On June 1, the minimum wage in B.C. increased again, rising from $17.40 per hour to $17.85 per hour.
Licensing changes
Earlier this year, B.C. announced a significant change to the licensing process for new drivers in the province. Instead of having to retake a test two years to 18 months after a driver receives their ‘N,’ they will have to show a clean record for a whole year once they receive their ‘N.’ According to ICBC, the changes will come into effect in early 2026 if legislation passes.
Notable transit changes
Every year, Metro Vancouver transit riders face the reality of a fare increase. 2025 is no different. Beginning next month, riders will see an average fare increase of four percent. For single-zone fares, that means an increase from $3.20 to $3.35. You can read more about upcoming transit changes in our story about a major funding announcement that was revealed earlier this year.
B.C. EV rebate changes
Earlier this year, B.C. announced it would no longer be offering residents an EV rebate. The province paused the Go Electric Passenger Vehicle Rebate program last month.
Other tax changes
Depending on what field of work you’re in, you might be looking at some changes in how income taxes work. B.C. has outlined a comprehensive list of changes to tax credits, some of which don’t take effect until Sept. 1, 2025, such as the interactive digital media tax credit. Some of the tax changes also apply to small businesses.
B.C. has made some changes to the Pay Transparency Act, and as of November 1, employers with 300 employees or more will be required to post pay transparency reports. We recently published a story about some notable employers who aren’t following the rules.
If you’re an ICBC customer, please note that some changes took effect on June 1, which could help you save money.
Also, a reminder that this year’s rent increase is capped at 3 per cent.
Another change that could impact the lives of some B.C. residents is that Bill 15 was recently approved. The bill is aimed at fast-tracking projects like new hospitals, schools, and other provincially significant projects, including those in the private sector.
Changes already in effect
The B.C. home flipping tax took effect on January 1. According to the BC government, the tax rate is 20 per cent of net taxable income earned from a property sold within 365 days. The rate decreases over the next 365 days. At 730 days, the tax no longer applies.
You can calculate the tax by visiting the BC government’s tax website.
The City of Vancouver approved a new property tax increase for 2025: 3.9 per cent in property taxes and 18.2 per cent in utility fees.
While not technically a regulation change or a fee increase, incorporation filings and filings to keep businesses up to date (like annual reports) will be moving to the Business Registry as of March 2025.
Some changes to the Family Law Act came into effect on Jan. 1, 2025. The changes are primarily administrative; you can check them out on the Lawson Lundell LLP website.
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