Increasing the employer payroll tax rate reduces the average hourly wage of workers.
The average Canadian family will pay 43.6 per cent of its income in taxes.
B.C.’s overall tax rate on new investment is 27.7 per cent—the highest rate in Canada.
The new EHT will apply to businesses with annual payrolls of more than $500,000.
The increased CPP tax alone translates into $1,624 more in taxes.