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Tax Credits – Minimum Tax Credit
If you are eligible to claim a minimum tax credit under Section 120.2 of the federal Income Tax Act, you may claim a B.C. minimum tax credit equal to percentage of the federal credit.
Special rules may apply if you are not a resident of British Columbia, or if you have income earned outside the province.
The B.C. Minimum Tax Credit is calculated according to the table below:
Year |
Percentage of federal minimum tax credit |
2009 |
33.7% |
2008 |
34.9% |
2007 |
38.0% |
2006 |
39.7% |
2005 |
40.3% |
2002 - 2004 |
37.8% |
For years prior to 2002, a minimum tax credit equal to 49.5% of the federal credit may be deducted from B.C. tax payable.
Legislation
Please see Section 4.68 of the B.C. Income Tax Act.
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