Tuesday, June 13, 2017

MSP CUTS in 2018 and PST reduction on electricity not confirmed.

Because the Liberal Budget was not passed before the election (and will cease to exist if Liberals fail the non-confidence vote on June 29) these cuts will not happened.  The NDP/Greens will have to bring in a budget and may resurrect these cuts??

Small businesses are also getting a boost from the budget. The province plans to eliminate PST on electricity by April 2019 and cut it by 50 per cent as of Oct. 1, 2017. (This would reduce the PST from 7% to 3.5%)

As part of its 2017 budget, the Liberal government announced approximately two million British Columbians will have their monthly Medical Services Plan (MSP) premiums cut in half starting Jan. 1, 2018.The MSP break will apply to those with an annual family net income between $29,000 and $120,000, but the reduction won't be automatic. MSP payers will have to fill out an online form to qualify for the reduction.
Vernon Data from Payments to Vendors in Excess of $25,000 :
  • BC Hydro & Power Authority 2,735,122 - Electric utility, pole relocates and contributions in aid. From the 2017 budget the taxpayers electrical bill is $1,359,634 and saving would be $47,587.  From the 2017 budget the Ratepayers (Sewer) electrical bill is $928,964 and saving would be $32,514. 

  • Medical Services Plan of BC 440,661 Employee benefits (440,661-21,000 (14 employees above $120m not eligible) =$419,661 x 50% =  $209,803 possible reduction in budget  for 2018 IF  implemented ???

No comments: