Vancouver, BC, June 10, 2020--The Feb 18 provincial budget introduced a new top tax bracket on taxable income of more than $220,000, imposed a 20.5% rate on it, and made it retroactive to January 1. Only Quebec and Nova Scotia have a higher tax. That will make it 24.2% BC tax on each dollar earned above $220,000. A year ago this provincial rate was 16.8% on income over $157,748 - so, a roughly 50% increase in one year in those earnings north of $220k. New combined fed/prov tax rate is 57%.