Income Tax Section - 2014
To Receive Updates
Each time we change the information on our website, we record that change on this page. This lets you see at a glance what changes have been made.
You will need Acrobat Reader installed on your computer to view some of these files, which are in PDF. Acrobat Reader is available as a free download for use on your personal or office computer.
Select a month:
December 9, 2014
The Liquefied Natural Gas Income Tax Act received Royal Assent on November 27, 2014.
December 8, 2014
Logging Tax and Insurance Premium Tax
New Online Services
Insurance Premium Tax and Logging Tax accounts now have access to our new online system
called eTaxBC. eTaxBC allows you to access and update your account
information, correspond with ministry staff, file your tax returns and pay your taxes.
Learn more at gov.bc.ca/etaxbc/myaccount
The Insurance Premium Tax and Logging Tax webpages have
been redesigned making it easier to navigate and find the information you need. Also, we
have removed bulletins (PDFs) and you can now find this information on the webpages.
Tax Returns and Forms
The following forms have been revised:
Logging Tax Return of Income (FIN 542S)
Logging Tax Return of Income for Processors (FIN 542P)
Insurance Premium Tax Return of Taxable Premiums (FIN 527)
Return of Unlicensed Insurance (FIN 521)
The following new forms have been created for Insurance Agents who file returns of unlicensed insurance on behalf of their clients:
Insurance Agent Summary Report (FIN 529)
Assignment of Refund (FIN 518)
December 2, 2014
Effective December 1, 2014:
- We are no longer charging a fee for clearance certificates under the Logging Tax Act or the Insurance Premium Tax Act.
- We are no longer issuing Clearance Certificates under the Corporation Capital Tax Act.
- FIN 638, Application for Clearance, has been revised to reflect these changes.
October 21, 2014
The Province introduced the Liquefied Natural Gas Income Tax Act today. The legislation includes an amendment to B.C.'s Income Tax Act to introduce the Natural Gas Corporate Income Tax Credit. Learn more about the Liquefied Natural Gas (LNG) Income Tax and read about the tax credit in the LNG Income Tax overview.
June 3, 2014
Bulletin PIT 001, BC Mining Flow-Through Share Tax Credit (BC MFTS) has been revised to reflect the extension of the expiry date for the BC MFTS tax credit to December 31, 2014.
March 4, 2014
Bulletin CIT 013, Training Tax Credit for Employers, has been revised to include updated information about the programs eligible for training tax credits.
Bulletin PIT 002, Training Tax Credit for Apprentices, has been revised to include updated information about the programs eligible for training tax credits.
February 18, 2014
The provincial government announced its 2014 Budget today. Programs administered by the Income Taxation Branch are amended as a result. Learn more at B.C. Provincial Budget Tax Changes.
January 21, 2014
Information Sheet 2014-001, BC Basic Personal Income Tax Credits: 2004 - 2012. This information sheet lists previous years' basic personal income tax credits. Current year basic tax credits can be found on our website at gov.bc.ca/incometaxes
Information Sheet 2014-002, Personal Income Tax Rates: 2004 - 2012. This information sheet lists previous years' personal income tax rates. Current rates can be found on our website at gov.bc.ca/incometaxes
January 7, 2014
Notice 2014-001, Notice to Taxable Insurers – 2013 Tax Returns. This notice provides information to assist taxable insurers with preparing their 2013 tax returns.