2026 comes with increased taxes and fees for British Columbians

With the new year, new increases in taxes and fees have arrived as well.

The increases hit many areas, from getting around to paying for heat at home.

As of Jan. 1, FortisBC is upping its rates for both electricity and natural gas. 

BC Hydro, however, is waiting until April 1 to boost its rates by another 3.75 per cent.

The increase will mean about $5 a month for residents using electricity and $11 a month for those using gas.

It will also cost more to take transit around the city or to cross the Georgia Strait.

BC Ferries is implementing an average fare increase of 3.2 per cent in April, and TransLink is upping fares by about five per cent starting in July this year.

Additionally, the Federal Canada Pension Plan and Employment Insurance contributions are increasing.

People making over $85,000 need to pay an additional $262 per year in mandatory contributions. 

At the same time, Ottawa is cutting the income tax rate from 15 per cent to 14 per cent – to its lowest rate.

Municipal tax increases are due in July; however, those vary widely depending on the municipality. 

But it’s not all bad news.

The B.C. government has limited the maximum allowable annual rent increase to 2.3 per cent.

This is a decrease from the three per cent cap last year.

With files from Dean Recksiedler.