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MSP enrolment confusion

MSP enrolment confusion

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Old Feb 23rd 2018, 9:43 pm
  #31  
 
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Default Re: MSP enrolment confusion

Originally Posted by scilly
the business premium which will replace the MSP as of January 1 2019 does NOT apply to businesses doing less than $500,000 per year, after that there will be pro-rated amounts as earnings increase.
It is determined by business having a payroll of $500,000 per year, not based revenues or earnings.
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Old Feb 23rd 2018, 10:05 pm
  #32  
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Default Re: MSP enrolment confusion

Originally Posted by Aviator
It is determined by business having a payroll of $500,000 per year, not based revenues or earnings.
which, based on the average BC annual salary of $49,244 (https://careers.workopolis.com/advic...ges-right-now/) is equivalent to 10 full time roles.

Not all that many and likely to affect at least some small growing businesses.
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Old Feb 23rd 2018, 11:27 pm
  #33  
 
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Default Re: MSP enrolment confusion

Originally Posted by Engineer_abroad
which, based on the average BC annual salary of $49,244 (https://careers.workopolis.com/advic...ges-right-now/) is equivalent to 10 full time roles.

Not all that many and likely to affect at least some small growing businesses.
Combined with the MMBC recycling tax, will be a growth inhibitor to some small businesses.
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Old Feb 24th 2018, 3:12 am
  #34  
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Default Re: MSP enrolment confusion

Originally Posted by Aviator
It is determined by business having a payroll of $500,000 per year, not based revenues or earnings.
Thank you, I was uncertain, and should have checked my facts before posting.
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Old Feb 24th 2018, 3:14 am
  #35  
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Default Re: MSP enrolment confusion

Originally Posted by Engineer_abroad
which, based on the average BC annual salary of $49,244 (https://careers.workopolis.com/advic...ges-right-now/) is equivalent to 10 full time roles.

Not all that many and likely to affect at least some small growing businesses.


surely most small businesses are paying below that average salary ............... many will only be paying minimum wage.
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Old Feb 28th 2018, 2:15 pm
  #36  
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Default Re: MSP enrolment confusion

Originally Posted by Edo
Its not. Cuz you have to pay the MSP whether you are making money or not. With Income Tax you don't.
Originally Posted by Almost Canadian
So it is a tax by another name, just as I said. The same applies to GST, property tax, etc.
But its hard to look at MSP that way once you have lived in other provinces.
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