BC Finance Minister Carole James has released a budget update (http://bcbudget.gov.bc.ca/2017_Sept_Update/bfp/2017_Sept_Update_Budget_and_Fiscal_Plan.pdf) which contains several important tax measures for individuals and corporations, namely: (1) the introduction of a new 16.8% rate on taxable income over $150,000 for individuals (increased from 14.7%); (2) a reduction of the small business corporate income tax rate to 2% (from 2.5%); and (3) an increase in the general corporate income tax rate to 12% (from 11%).