BC BIAs Advocacy Efforts Lead to Small Business Exemption

South Granville BIA celebrates a significant win for small businesses in British Columbia, thanks to its strategic advocacy alongside other business associations. The B.C. government has announced a change in the 2024 budget: the employer health tax exemption threshold has been raised from $500,000 to $1 million, effective January 1, 2024. This pivotal adjustment means that businesses with payrolls under $1 million are exempt from the employer health tax, while those between $1 million and $1.5 million will see a rate of 5.85%.