British ColumbiaBC-M245First Reading
BC-M245: Bill M 245: Young Workers Income Tax Relief Act
Sponsor: Tara ArmstrongIntroduced May 21, 2026Last checked August 28, 2026
Read the official textOfficial version
What this bill does
This BC bill would cut provincial income tax by 50% for anyone under 40 years old, and separately requires the BC government to slash its total public spending by 50% within five years.
Plain-language summary by Legisail.
Business impact
TaxCompliance
This bill primarily affects individual workers and employees in British Columbia who are under 40, rather than businesses directly — anyone on payroll in that age group would keep significantly more of their paycheque. For small business owners and sole proprietors under 40 in BC, this would meaningfully reduce their personal income tax bill on business income flowing through to their personal return. Employers across all industries could feel indirect effects through labour market dynamics, as the tax relief may affect wage expectations or workforce attraction. The mandated 50% cut to government spending could have significant downstream effects on businesses that rely on public contracts, subsidies, or government-funded programs.
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Where this bill is
First ReadingMay 21, 2026
Next: Second Reading debate
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