Doing Business in Kamloops

Moving your businesses to Kamloops can be the smartest decision your company makes. Lower taxes and an affordable cost of living enable you to do more with the money you make and maintain a higher standard of living. The incentives for doing business in Kamloops go far beyond your quality of life. Kamloops’ strategic location, transportation infrastructure, agreeable climate and logistics network all make Kamloops a great place to do business.

Kamloops has many organizations and associations geared toward helping business prosper. The City’s Business and Client Services Division will unravel red tape, deal with contractual matters, and conduct business liaison and best-practice research, making it a more streamlined service. Other associations include FrontCounterBC, Ministry of Economic Development, Business Improvement Associations, Tourism Kamloops, the Kamloops Home Based Business Association, Kamloops Chamber of Commerce, and the Accommodation Association just to name a few.

When it is time to relocate your business, consider incentive programs that may be available in addition to the other great benefits that a location like Kamloops has to offer. Kamloops and the Government of British Columbia provide a wide variety of incentives to help eligible businesses realize their goals. Governments utilize incentives such as tax reimbursements, tax credits, payroll rebates and R&D tax credits to encourage desirable businesses to move or expand. Kamloops also ranks 10th in the Top 10 Micro American Cities of the Future 2013/2014 for Cost Effectiveness (FDI).

If you need additional information about the incentive packages available, relocation specialists at Venture Kamloops can help. Contact Cindy Dueck for more information cindy@venturekamloops.com or call 1-888-526-5667.

Property Taxes 2018
Levy Residential Utilities Appt. Housing Major Industry Light Industry Business/Other Managed Forest Land Rec/Non-Profit Farm
General – City 5.19 40.0 5.19 73.34 20.77 13.21 16.50 13.89 13.46
School 1.9835 13.4 0.1 4.2 4.2 4.2 1.9 2.5 7.0
BC Assessment 0.0403 0.5037 0.0000 0.5037 0.1241 0.1241 0.2560 0.0403 0.0403
Regional District (TNRD) 0.3286 1.1501 0.3286 1.1172 1.1172 0.8051 .9858 .3286 .3286
Hospital District 0.4744 1.6604 0.4744 1.6130 1.6130 1.1623 1.4232 0.4744 0.4744
Total Tax Rate per $1,000 Assessed Value 8.0168 56.7142 6.0930 80.7739 27.8243 20.6841 21.0650 17.2333 21.3033
Other Rates
North Shore BIA .598229
Central Business BIA .662969
Taxation
  Small Business Manufacturing Non-Manufacturing
Federal - 2018      
• Rate 10% 15% 15%%
• Formula (i.e. Sales, Property & Payroll) n/a n/a n/a
• Accelerated Depreciated Permitted Yes Yes Yes
Provincial 2017      
• Rate 2.0% 12.0% 12.0%
• Formula (i.e. Sales, Property & Payroll) Sales & Payroll Sales & Payroll Sales & Payroll
• Accelerated Depreciated Permitted No No No
Total Federal and Provincial Corporate Income Tax 12% 27% 27%

Source: Corporate Income Tax (As of Jan. 1, 2015)

Employment Insurance - 2018
    Notes
Taxable Base: Gross Payroll Maximum weekly insurable earnings $51,700.
Percentage Rate (Employer Premium)    
Average Among Existing Employers: 1.66% Employer premium set at 1.4 times that of the employee premium to a max of $1,201.51
Average Among New Employers: 1.66% Employee premium to a max of $858.22
Maximum Weekly Benefit max $750.00 Paid by the Government of Canada (55% of insured weekly earnings, representing the general benefit level)
Social Insurance (Canada Pension Plan – CPP) – 2017
    Notes
Taxable Base: Gross Payroll $3,500.00 Based on annual gross salary up to $54,900 basic exemption of $3,500. Both employers and employees are required to contribute to the Canada Pension Plan (CPP)
Employee/Employer Contribution Rate   4.95% Employer premium equal to employee premium
Maximum Annual Employer Contribution: Per Employee $2,563.80 Employer contribution matches employee contribution.
Self-employment Contribution Rate $2,593.80
Maximum Annual Self-employed contribution: $5,187.60

Source: Government of Canada

Sales/Use Tax B.C.
Rate Rate Notes
Goods and Services Sales Tax 5% GST on business inputs is fully recoverable
Provincial Sales Tax 7% PST Retail Sales Tax
Local 0% BC has no local sales tax
Total (Effective Combined Rate) Business 5% Net of GST 0% for production machinery and equipment for eligible manufacturers

Source: Government of Canada

Workers Compensation B.C.


WorkSafeBC collects insurance premiums from employers to cover the cost of workplace insurance. As an employer, you are required to pay premiums, just as you would for any other insurance. Premiums are based on the assessable earnings of your workers. The premiums we collect from you pay the costs associated with work-related injuries and diseases, including health care, wage loss, rehabilitation, and administration. Visit WorkSafeBC to find out more.

Inexpensive Office Space


Kamloops boasts inexpensive office and retails space for lease, when compared to cities of similar size or larger.

Location Price Per Sq. Ft.
Vancouver $42.53
Kelowna $13.50
Kamloops $9.40

(Plus common costs $3.75-$5.00)
Source: Kamloops Real Estate Board

Occupation Title Average Full Time Hourly Wages
MANAGEMENT Median wage 2017 ($/Hour)($CDN)
Insurance, Real Estate and financial Brokerage Managers $42.56
Manager, Office $22.24
Manager, Senior - Construction $38.46
BUSINESS, FINANCE & ADMINISTRATIVE OCCUPATIONS
Business Management Consulting $36.00
Administrative Officers $18.00
Bookkeepers $15.00
HEALTH
Registered Nurses $40.19
Home Support Worker $16.75
Nurse Aides, Orderlies and Patient Service $20.72
SALES & SERVICES
Graphic Designer $25.50
Retail Salespersons $12.25
Web Developer $25.00
Purchasing Agents and Officers $27.47
Chef $17.31
TRADES, TRANSPORT & EQUIPMENT OPERATORS AND RELATED OCCUPATIONS
Plumbers $25.00
Welder $29.90
Carpenters $25.00
Railway and Yard Locomotive Engineers $42.397
Automotive, Truck & Bus Service Technician $25.00
Truck Drivers, Transport $25.48
Heavy Equipment Operators (Except crane) $26.00
Construction Trades Helpers and Labourers $18.00
Labourers in wood, pulp and paper processing $25.00

Source: https://www.jobbank.gc.ca/explorecareers.do

Focus on Canada – Results for Canadian Cities


The International Report features results for 107 individual cities in 10 countries. Overall results for each of the cities in the Pacific US/Canada region. Kamloops rates #1 in the PacificUS/Canada for cost results as below:

Rank City State/Province Country
1 Kamloops British Columbia Canada
2 Vancouver British Columbia Canada
3 Boisie Idaho US
4 Spokane Washington US
5 Portland Oregon US
6 Las Vegas Nevada US
7 Riverside-San Bernardino California US
8 Sacramento California US
9 San Diego California US
10  Los Angeles California US

Source: KPMG’s Guide to International Business Location Costs 2014 Edition