Finance Minister Selina Robinson tabled the 2022 British Columbia provincial budget on February 22, 2022.
Due to better-than-expected economic growth, the deficit for the 2021/22 fiscal year is anticipated to be $483 million, which is less than the previous projection of $9.7 billion. The budget projects a deficit of $5.5 billion for 2022/23 and $4.2 billion for 2023/24 fiscal years.
There were no increases or decreases to personal or corporate income tax rates for 2022. However, the budget includes a temporary clean buildings tax credit, PST exemptions on zero-emission vehicles and the extension of certain tax credits.
The comprehensive summary of the changes announced in the budget can be downloaded here.