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

  Effective Date
Corporation Capital Tax Act
  • Rules regarding the treatment of joint venture interests are harmonized with new provisions under generally accepted accounting principles

  • Definitions for British Columbia eligible expenditures are harmonized with generally accepted accounting principles

  • A non-resident corporation is deemed to have a permanent establishment in the province if it owns real property in British Columbia

  • Investment allowance deduction permitted for qualifying loans and advances to partnerships

  • Corporation capital tax allocation rules are harmonized with federal allocation rules to deny an allocation of the tax base to foreign jurisdictions in which a corporation is not taxable
April 1, 1997
April 1, 1997
April 1, 1997
April 1, 1997
April 1, 1997
Social Service Tax Act

  • Minimum refund amount increased to $10 from $1

  • Energy conservation exemption expanded to include chemicals to make spray polyurethane foam insulation for buildings

  • List of exempt safety equipment expanded

  • List of items that can be purchased exempt by bona fide farmers expanded
March 26, 1997
March 26, 1997
March 26, 1997
March 26, 1997
Motor Fuel Tax Act

  • Application of tax to natural gas used to compress gas or pump oil through transmission lines clarified

  • Authority provided to refund the difference between the clear and coloured fuel tax rates for clear fuel used in family farm trucks for farm purposes
March 26, 1997
March 26, 1997
Property Transfer Tax Act
  • Exemption for transfers to and from family farm corporations expanded
March 26, 1997
School Act
  • The tax rate for amalgamated school districts will be phased in over two years
tax year
Fire Services Act
  • Application of tax to the full amount of property insurance premiums clarified
Various Statutes
  • The appeal period is extended to 90 days for the following four provincial tax statutes: Corporation Capital Tax Act; Logging Tax Act; Mining Tax Act; and Insurance Premium Tax Act

  • Authority provided to recover overpaid refunds in the following statutes: Hotel Room Tax Act; Motor Fuel Tax Act; Social Service Tax Act; and Tobacco Tax Act
March 26, 1997
March 26, 1997

Budget 97 Reports

BC Budget 97

BC Ministry of Finance and Corporate Relations

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