B.C.’s minimum wage set to rise
The B.C. government will increase the province's minimum wage in two stages, bringing the wage from the current $10.45 an hour to $11.25 an hour by 2017. On Sept. 15, 2016, minimum wage will rise to $10.85.
A second increase of 30 cents 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. The 2016 CPI will be available from Statistics Canada by March 2017.
The B.C. government also is reaffirming its commitment to reducing the small business tax rate by 40 per cent by 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.
The minimum wage rate for liquor servers also will increase by the same amounts and on the same dates as the general minimum wage. The differential of $1.25 between the general minimum wage and liquor server rate will be maintained.
In addition, the province is investing $2.88 million in new training programs to help with labour shortages in the province. The programs will be help young people, small businesses and employers in the retail, hospitality, agriculture and aquaculture sectors.