The following electronic version is for
informational purposes only.
The printed version remains the official version.
 		BUDGET 97: REPORTS
Ministry of Finance and Corporate Relations
Province of British Columbia

TABLE D1
SUMMARY OF REVENUE MEASURES
  Effective
Date		 Revenue
Effects
1997/98		 Revenue
Effects
Full Year
    ($millions)
Corporation Capital Tax Act
  • The investment allowance is amended to disallow a deduction for certain investments in foreign bank accounts, insurance companies, and exempt Crown corporations
 April 1,
1997		 5 5
School Act
  • Average gross residential school taxes are maintained at 1996 levels by adjusting school property tax rates in response to changes in assessed values. Non-residential school property tax rates are unchanged from 1996
 1997
tax year		 16 16
Taxation (Rural Area) Act
  • Average gross residential taxes are maintained at 1996 levels by adjusting the residential rural area tax rate in response to changes in assessed values. Non-residential rural area property tax rates are unchanged from 1996
 1997
tax year		 -- --
Municipal Act, Vancouver Charter,
    Taxation (Rural Area) Act
  • The property tax exemption for properties designed for the purpose of abating pollution will no longer be available for new properties or properties not previously exempted. Properties exempted from tax for this reason in 1996 will maintain their exempt status
 1997
tax year		 -- --
Tobacco Tax Act
  • Tax rate on loose tobacco increased from 8.4 cents per gram to 11 cents per gram
 March 26,
1997		 18 18
Other Revenue
  • Various fees and licences adjusted
 various 49 55
        Total 88 94
Revenue Dedicated to
    BC Transportation Financing Authority
Motor Fuel Tax Act
  • Additional 1 cent per litre of the clear fuel tax transferred to BC Transportation Financing Authority. No increase in overall fuel tax rates
 April 1,
1997		 -- --
Revenue Dedicated to Tourism British Columbia
Hotel Room Tax Act
  • Subject to concluding discussions with industry, 1.65 percentage points of the 8 per cent provincial hotel room tax transferred to Tourism British Columbia. No change in overall hotel room tax rate
 April 1,
1997		 -- --

Budget 97 Reports

BC Budget 97

BC Ministry of Finance and Corporate Relations

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