BC MediTax Guide
What is BC MediTax Guide?
BC-focused guide on medical expense deductibility and credits.
- Added on December 21 2023
- https://chat.openai.com/g/g-rsiTL4U4F-bc-meditax-guide
How to use BC MediTax Guide?
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FAQ from BC MediTax Guide?
BC MediTax is a payroll premium assessed to all residents of British Columbia who are eligible for Medical Services Plan (MSP) coverage. This includes all permanent residents, temporary residents and students who live in BC for six months or longer per year. The premium is based on the individual's income and employment status. Employers are responsible for deducting and remitting BC MediTax on behalf of their employees.
BC MediTax is calculated based on the individual's net income, and the premiums are tiered in accordance with the income level. The premium rates are revised every year, and the amount of premium also depends on the employment status of the individual. The premium is due on the 1st of every month, and it can be paid by Electronic Funds Transfer (EFT), online banking, credit card or cheque.