Prepare to open your wallets a little wider in 2013.
B.C.’s Medical Services Premiums are jumping again for the third year in a row. The provincial government is introducing a four per cent hike in premiums once the clock ticks to January 1, 2013. Individuals will now pay $66, up from $64. A family of two currently pays $116 and in 2013 that will jump to $120.50. Families of three or more will now pay $133 up from $128.
Federally, several fees will be rising for residents in 2013 as well. Taxes for both Employment Insurance and the Canada Pension Plan will go up. Employees will see $891.21 taken off their cheques next year if they make $47,400 or more. That’s up $51.50. Employers will start paying $1,247.57 per employee, which is up $71.61.
Canada Pension Plan contributions are going up as well. For those making $51,100 or more, their contributions will go up $49.50 for a total of $2,356.20. Employers will also see an increase.
BC Hydro rates will go up 3.91 per cent in April and most cities in the province will see their property taxes rise by two to three per cent.
Here in Cranbrook, water utilities are going up by $1 and will be $55.50 this year. for homeowners looking to save on utilities, paying up all your fees by February 28 will give you a five per cent discount.