Eby Promises New 24.5% Tax Bracket for B.C. Incomes Over $1M to Help Fund Health Care
Olivia Singh
10/5/20263 min read
B.C. NDP Leader David Eby is promising higher provincial income tax rates for the province’s top earners, including a new 24.5 per cent bracket for income above $1 million, if his party is re-elected.
The NDP announced the proposal Sunday while Eby was campaigning in Comox on Vancouver Island ahead of the Oct. 24 provincial election.
The party says revenue generated by the changes would be used to help fund health care and measures aimed at lowering costs for British Columbians.
“As we face an unprecedented attack on our economy and rising costs for working families, we’ll ask the wealthiest to chip in a little more,” Eby said in a statement.
New Bracket for Income Above $1M
Under the proposal, tax rates would rise only for the province’s two highest existing income brackets, while lower brackets would remain unchanged.
The current top provincial income tax rate is 20.5 per cent for taxable income above $265,545.
The NDP proposal would restructure the highest brackets so that income between $190,504 and $265,545 would be taxed at 18.8 per cent, while income between $265,545 and $1 million would face a 22.5 per cent provincial rate.
A new bracket would then apply a 24.5 per cent rate to taxable income above $1 million.
The higher rates would be marginal, meaning taxpayers would pay the increased percentages only on the portions of their income falling within those brackets, rather than on their entire annual income.
NDP Estimates $1B in Additional Revenue
The party says fewer than four per cent of B.C. earners would be affected by the changes.
It estimates the new tax structure would generate approximately $1 billion in additional revenue.
The NDP says that money would be directed toward health care and measures intended to reduce household costs.
The announcement is one of several affordability and taxation proposals Eby has introduced during the campaign.
He has also promised price protections for certain groceries, gasoline and diesel, along with a temporary 10-cent-per-litre reduction in the provincial motor fuel tax.
Earlier in the campaign, Eby also proposed a new tax on empty condominiums and changes to the province’s speculation and vacancy tax.
Conservatives Warn Plan Could Hurt Doctor Recruitment
The B.C. Conservatives criticized the income tax proposal, arguing that higher rates would also affect some doctors and medical specialists.
The party said communities across the province are already competing to recruit health-care professionals and warned that the proposed increases could encourage some high-earning physicians to leave B.C.
“There is no problem the NDP don't think can be fixed by raising your taxes,” the Conservatives said in a statement.
The party has campaigned on a commitment not to increase taxes.
Greens Say Plan Misses Much of Ultra-Wealthy’s Income
B.C. Greens Leader Emily Lowan also criticized the proposal, but from a different direction.
She argued that targeting employment income does not fully address how the wealthiest British Columbians accumulate their fortunes.
Lowan said much of that wealth is generated through investments and real estate rather than salaries.
“His plan doesn't touch a cent of that,” she said.
Previous Campaign Promises Face Scrutiny
The NDP’s latest commitments are also facing criticism over promises made during the previous provincial election.
Peter Milobar, the B.C. Conservative candidate for Kamloops Centre, pointed to the NDP’s 2024 pledge to provide families with a $1,000 annual grocery rebate.
The government later cancelled that measure as it sought savings amid uncertainty surrounding trade relations with the United States.
“These are serious times, and families need strong leadership, not a premier who treats promises like campaign props,” Milobar said.
With election day set for Oct. 24, taxation, affordability and health-care funding are emerging as major dividing lines between the province’s parties.
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