BC-GOV02: Bill 2: Budget Measures Implementation Act, 2026

This bill directly hits professional service firms in British Columbia — accountants, bookkeepers, architects, engineers, commercial real estate agents, and security companies — who must now charge and collect 7% PST on their services starting October 1, 2026 (with architects and engineers taxed on 30% of their fees). Any BC business that purchases these services will see costs rise. Manufacturers and processors across BC benefit from a new investment tax credit of up to 15% on eligible equipment purchases (capped at $2 million per year), which is most valuable for small to mid-sized Canadian-controlled private corporations investing in new machinery. Property owners in the speculation and vacancy tax zones face a rate increase from 3% to 4%, and homeowners in northern and rural areas lose their enhanced home owner grant. The higher school property tax rates and increased top personal income tax bracket also affect business owners and higher-income individuals province-wide.