Expert Tax Accountants in Campbell River

Non-taxable income is money you receive that never enters taxable income. Common examples are lottery and most gambling winnings, gifts and inheritances, growth and withdrawals inside a TFSA, the GST/HST credit and Canada child benefit, most life insurance death benefits, and child support under current-rule agreements. A few amounts are reported and then deducted, such as workers' compensation and social assistance, because they still affect benefit calculations, so report anything that arrives on a slip even when no tax results.

Not across the board. For 2026 the lowest federal bracket rate is 14%, with 20.5%, 26%, 29% and 33% applying above it, and the federal basic personal amount is $16,452, tapering to $14,829 on net income between $181,440 and $258,482. The capital gains inclusion rate stays at one-half for 2025 and 2026; the 2024 proposal to raise it was never enacted. Brackets and credits are indexed annually, so check the CRA's rates for the year you are filing.

Some services only. BC's 7% PST reaches legal services, telecommunication services, accommodation, and work performed on goods such as repair, maintenance and installation. Many other services, including most professional and consulting fees, fall outside PST, though the 5% GST still applies to them. Because the list is specific rather than general, check the province's PST bulletin for your line of work before you register, charge tax or price a quote.

Income tax, consumption tax and property tax. Income tax applies to what individuals, corporations and trusts earn and is the largest source of federal and provincial revenue. Consumption tax is charged on what you buy: GST at 5%, HST in five provinces, and PST, RST or QST in others. Property tax is charged by municipalities on assessed real estate value. Payroll contributions to CPP and EI sit alongside these and work much like a tax on earnings.

Since 1 April 2024, a first-time buyer in British Columbia pays no property transfer tax on the first $500,000 of value, worth up to $8,000, provided the home's fair market value is $835,000 or less. Between $835,000 and $860,000 the exemption tapers off in a straight line, and above $860,000 none is available. You must also be a Canadian citizen or permanent resident, meet the province's residency test, and live in the home.

No. Food for human consumption is exempt from British Columbia's 7% PST, and basic groceries are zero-rated for the 5% GST as well, so a normal grocery shop carries no sales tax. The exceptions are treated differently: carbonated and sweetened drinks attract PST, and restaurant meals and food sold heated or ready to eat attract GST. Non-food items in the same basket, such as cleaning supplies, remain fully taxable.

Taxi fares in British Columbia carry the 5% GST but no PST. PST applies to goods and a listed set of services, and passenger transportation is not one of them. Ride-hailing trips are treated the same way. Drivers running a taxi, limousine or ride-share business must register for GST regardless of revenue, so the $30,000 small-supplier threshold does not apply to them. The fare receipt should show the GST separately.

Yes. Property tax is a municipal charge on the property rather than an income tax, and it does not stop at any age. Relief does exist in places: several provinces and municipalities run deferral programs that let older or lower-income owners postpone payment until the property is sold, usually with interest, and some offer a grant or rebate. These are applied for each year through the province or municipality, not on your T1. Check your municipality's tax page for what is offered.

British Columbia PST is 7% (2025 and 2026) and applies to most goods, to software, and to a defined list of services including legal services, telecommunications, accommodation, and repairs or maintenance of taxable goods. Groceries, most services, children's clothing and residential rent fall outside it. Vehicles, boats and aircraft follow their own rules. PST is not a value-added tax, so there are no input credits to recover it; check the province's PST bulletins for your item.

Pension income splitting is the largest lever for most couples: up to 50% of eligible pension income can be reported by a lower-income spouse, and RRIF income qualifies from age 65. Beyond that, sequence withdrawals from registered and non-registered accounts to keep net income under the Old Age Security recovery threshold, use TFSA withdrawals that count as no income at all, claim the pension and age credits, and consider drawing down RRSPs before the plan must be wound up, which is by the end of the calendar year in which you turn 71 and not on your 71st birthday.

Yes. On top of the general 1%, 2% and 3% bands, British Columbia charges a further 2% on the portion of a residential property's fair market value above $3,000,000, so that top slice is taxed at 5% in total for 2026. On a mixed-use property the extra 2% applies only to the residential part. It is separate from the additional tax on foreign buyers, which can apply as well.

Child care costs are a deduction, not a credit, so there is no fixed percentage refunded. The eligible amount comes off your income, and the saving equals your marginal tax rate on what you deduct, which is why it is worth more to a higher earner. Annual limits apply per child and are smaller for older children, and the claim generally has to go on the lower-income spouse's return. Keep receipts showing the provider's name and number.