New B.C. Millionaire Tax
B.C. NDP Leader David Eby Proposes New Millionaire Tax to Fund Public Services
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Key Points
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The NDP estimated that more than 96% of B.C. income earners would not face an increase under the proposal.
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Eby first announced the plan while campaigning in Comox after touring ridings in southern B.C.; he said he would provide the details at a later campaign stop in Victoria.
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Asked whether new taxes and regulations could make businesses feel unwelcome, Eby said the NDP was standing up for British Columbians, adding that businesses also rely on functioning services, including goods deliveries, housing and access to health care for employees.
B.C. NDP Leader David Eby unveiled a tax increase on wealthy earners, promising to raise up to $1 billion yearly for health care and public services Parksville Qualicum News. The plan would create a new tax bracket at 24.5% for income above $1 million and raise rates on existing top brackets starting in 2027. Only 3.88% of B.C. income earners would pay more under the proposal Vernon Morning Star.
How the New Tax Brackets Would Work
The NDP would raise taxes on two existing income brackets starting in 2027. Income between $190,405 and $265,545 would jump from 16.8% to 18.8% Kelowna Capital News. Income between $265,545 and $1 million would increase from 20.5% to 22.5%. A brand new bracket of 24.5% would apply to all income above $1 million Campbell River Mirror.
Why 96% of Earners Dodge the Tax Hike
The NDP estimates that more than 96% of B.C. income earners would not see a tax increase Coast Mountain News. Only those earning above $190,405 annually would face higher rates. This means the proposal targets a small slice of the province's highest earners while leaving the middle class untouched.
Eby's Defense Against Business Pushback
Critics worry that new taxes and regulations could drive businesses away from B.C. Eby pushed back, saying the NDP stands up for British Columbians Parksville Qualicum News. He argued that businesses depend on strong public services too — including functioning health care, housing, and transportation for employees and goods delivery Vernon Morning Star. The tax hike is part of a broader campaign platform featuring grocery price protections and housing-related taxes.
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