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Does government always win?
I was doing some tax planning for 2013 and discovered that the 2013 BC Basic Personal Tax Credits had decreased from 2012. I was confused because they are supposed to be indexed to inflation, i.e. I expected that they would be up in 2013, not down.
On further investigation I found this:
“As part of the HST implementation, the basic personal, spousal and eligible dependant amounts were increased in 2010. This increase was reversed when the PST was re-implemented on April 1, 2013; therefore, these amounts have decreased in 2013.”
Yeah, and not be a small amount either:
i.e. Basic 2012 = 11,354. Basic 2013 = $10,276 ($1,078 lower)
Spousal (Reduced when spousal income exceeds): 2012 = $9,964 ($996), 2013 = $8,860 ($886); $1,104 ($110) lower.
Seems to me that we are being punished for voting the HST out.
I don’t remember anybody mentioning changes to BC Basic Tax Credits during the run up to the vote.
Does the government always have to win?