Finance

OPINION EDITORIAL: Budget 2022, April 10, 2022

As your Member of Parliament for Steveston-Richmond East I am focused on the social and economic needs for the future of our community. Last week’s Budget 2022 gives us the tools we need to overcome the challenges facing our community, but also take advantage of opportunities to grow our economy.

Land Owner Transparency Registry opens to public

Transparency information on interest holders of B.C. real estate is available for public search in the Land Owner Transparency Registry, giving law enforcement and tax authorities a significant tool to combat money laundering in the real estate market.

Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, continues quantitative easing

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week.

5 simple tax tips for 2021

In a normal year, taxes can be complicated. This year due to the COVID-19 pandemic, filing taxes will be different and potentially more confusing for many of us who experienced a change in income or employment terms, or received government financial support and benefits.

Home Owner Grant threshold set for 2021 tax year

The 2021 Home Owner Grant threshold is set at $1.625 million, ensuring the same percentage of British Columbia homeowners continue to be eligible.

New in 2021, the Province is taking over full administration of the grant program to ease the burden on municipalities. The Province already administers the grant for rural homeowners. Homeowners in all municipalities will now submit their applications directly to the Province instead of through their municipal office. Similar to previous years, applications will open in May when a majority of property tax notices are received.

Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week.

Applications for $1,000 B.C. Recovery Benefit will begin soon

“As 2020 draws to a close, we look back on a year like no other. British Columbians came together to face the challenge of COVID-19 with resilience and strength, but the road to recovery is still ahead of us,” said Premier John Horgan. “We have worked hard to get the B.C. Recovery Benefit to people as soon as possible. We are united with the millions of people and families who are wrapping up a difficult year and look forward to a new year with hope and the promise of a continued recovery.”