It’s 2025, and the new year brings new laws, regulations, fees and other changes to BC. We’re two weeks into the new year, and some new rules have already taken effect — with more on the way soon.
Daily Hive already shared what Canadians will pay more for federally for everyday goods and services.
Now, we’ll take you through some changes to expect as a BC resident.
Fees related to rent and property
The BC home flipping tax took effect on January 1. According to the BC government, the tax rate is 20% of net taxable income earned from a property sold within 365 days. The rate decreases over the next 365 days. At 730 days, the tax no longer applies.
You can calculate the tax by checking out the BC government flipping tax website.
It’s a new year, so your landlord has another opportunity to raise your rent. The 2025 rent increase is capped at 3% for residential tenancies and 3.5% for commercial.
There’s also some news that should make the rent increase easier to swallow, as BC residents will be entitled to another renter’s tax credit on their 2024 income tax return. BC has also increased the income threshold this year, meaning more people will be eligible than last year.
BC is also making some changes to the speculation and vacancy tax in the province. Homeowners in 59 communities are being mailed notes instructing them to file their declarations before the March 31, 2025, deadline. That includes 13 new communities who will be declaring for the first time.
The City of Vancouver approved a new property tax increase for 2025: 3.9% in property taxes and 18.2% in utility fees.
Employment changes
There are some changes to be aware of in certain employment sectors.
BC has increased the minimum wage in June for the last several years. It currently sits at $17.40, but there’s a chance we’ll see another increase this year. Law firm Samfiru Tamarkin suggests that the government will increase the wage again this year, but the exact amount isn’t yet known.
Farmers who harvest certain crops by hand are also getting a raise. The BC Ministry of Labour announced that minimum piece rates for hand harvesting specified farm crops increased by 3.9% on Tuesday, December 31, 2024.
For folks in the film and TV industry, there’s some good news heading their way. BC is increasing tax incentives for the motion picture sector to help attract more major productions.
“With the approval of budget legislation, the FIBC will increase from 35% to 36%, and the PSTC will increase from 28% to 36% for productions with principal photography starting January 1, 2025,” said the BC Ministry of Tourism.
BC’s Pay Transparency Act was passed in 2023. Part of that act required employers to include pay details like wages in their job postings and post reports about their pay-gender gaps. Beginning later this year, all employers with 300 employees or more will be required to do the same.
Transportation changes
The BC Carbon Tax is set to increase again this April, adding 21 cents to how much you pay to fill up your vehicle.
Transit riders can also expect a TransLink fare increase at some point this year. While TransLink hasn’t formally announced the exact amount it will increase by, it has proposed a 4% hike for 2025.
BC Transit users, including riders on Vancouver Island, can also expect a fare increase.
Other changes
On the campaign trail last year, BC NDP Leader David Eby promised BC residents $1,000 yearly in household relief. While the details of that relief are still being ironed out, you can expect that sometime in 2025.
While not technically a regulation change or a fee increase, incorporation filings and filings to keep businesses up to date (like annual reports) will be moving to the Business Registry as of March 2025.
Some changes to the Family Law Act came into effect on January 1, 2025. The changes are primarily administrative; you can check them out on the Lawson Lundell LLP website.