2017 New Year Hits To Your Pocket

Fraser Valley – When we ring in the new year, we also ring in fare and rate increases and changes to certain programs.

This is not a complete list, but these are the one’s that will hit you first and foremost.

ICBC

ICBC’s rate increase for basic insurance was approved, so that means drivers will see a 4.9 per cent rate increase.

BC Hydro

BC Hydro rates will be going up by 3.5 per cent in 2017, followed by three per cent in 2018. The next increase will take effect on April 1, 2017.

MSP

Your Medical Services Plan coverage will see changes.

As of January 1, 2017, there will be no premiums for children under 19 years old.

MSP premium rates for adults will be determined by the number of adults on a MSP account.

The MSP premium rate for two adults will be twice the amount of the single adult rate.

Full premium assistance will be available to those whose net income is $24,000 or less.

Premium assistance will be available to those whose adjusted net income is up to $42,000.

BC Ferries

It is expected that BC Ferries will raise its fares 1.9 per cent in 2017.

Property Taxes

Chilliwack’s Property Taxes rise 3.5% for 2017.

Abbotsford is expected to follow suit with some form of an increase.

BC Provincial Campground Reservation System

Changes to the BC Parks Discover Camping Reservation Service for the 2017 season aim to improve fair access for everyone looking to book a campsite in B.C.’s world-class provincial parks.

Beginning in 2017, the mid-March “opening day” for reservations will be eliminated and the three-month rolling reservation window will be extended. Reservations for the 2017 season can be made four months in advance of an individual campground’s first reservable date.

Free Admission To Canada’s National parks, but there is a catch

Admission is free throughout 2017 to mark Canada’s 150th anniversary.

Shorter Wait Time For E-I

The two-week waiting period before EI benefits, including special benefits for maternity or disability leave, start paying out  — will be reduced to one week starting January 1.

EI Changes

You will notice a few changes to those deduction and the benefits, but that is if you earn over $51K.

 

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