
Minimum wage raise may cost you more
KAMLOOPS–As of today, B.C.’s minimum wage is $16.75–over a dollar more than it was yesterday.
While minimum wage workers may be excited about the raise, it could be coming at the expense of consumers and small business owners. The increase is only a $1.10 per hour, but that could mean payroll crossing the $500,000 threshold for Employers’ Health Tax (EHT).
“For a lot of businesses, a minimum wage increase – with the same number of employees, suddenly their payroll has tripped over that half a million dollar mark,” Tim Shoults, Kamloops Chamber of Commerce president said. “Which is where that EHT comes into effect and suddenly they are paying thousands more in health taxes, as well as more in wages. All of these are things people are going to see at the cash register.”