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 2017
Levy Residential Utilities Appt. Housing Major Industry Light Industry Business/Other Managed Forest Land Rec/Non-Profit Farm
General – City 5.50 40.0 5.50 73.34 20.99 13.64 16.50 14.09 13.53
BC Assessment 0.0432 0.4981 0.0000 0.4981 0.1393 0.1393 0.2831 0.0432 0.0432
RegionalDistrict(TNRD) 0.3494 1.2229 0.3494 1.1880 1.1880 0.8560 1.0482 0.3494 0.3494
Hospital District 0.5097 1.7840 0.5097 1.7330 1.7330 1.2488 1.5291 0.5097 0.5097
School 2.1163 13.4 0.1 4.8 4.8 4.8 1.9 2.7 6.9
Total Tax Rate per $1,000 Assessed Value 8.5186 56.9050 6.4591 81.5591 28.8503 20.6841 21.2604 17.6923 21.3323

Real Property Tax Rates per $1,000 of Assessed Property (Land and Buildings) – Municipal

North Shore B.I.A 0.619655
Central B.I.A 0.664979
Taxation
  Small Business Manufacturing Non-Manufacturing
Federal      
• Rate 11% 15% 15%%
• Formula (i.e. Sales, Property & Payroll) n/a n/a n/a
• Accelerated Depreciated Permitted Yes Yes Yes
Provincial      
• Rate 2.5% 11.0% 11.0%
• 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 13.5% 26.5% 26.5 %

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

Employment Insurance
    Notes
Taxable Base: Gross Payroll Maximum weekly insurable earnings $48,600.
Percentage Rate (Employer Premium)    
Average Among Existing Employers: 1.88% Employer premium set at 1.4 times that of the employee premium.
Average Among New Employers: 1.88% Employer premium set at 1.4 times that of the employee premium.
Social Insurance (Canada Pension Plan – CPP) – 2017
    Notes
Taxable Base: Gross Payroll $3,500.00 Based on annual gross salary up to $55,300, 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 $2,564.10 Employer contribution matches employee contribution.
Self-employment
Maximum Annual Self-employed contribution: $5,128.20

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 OCCUPATIONS
Insurance, Real Estate and financial Brokerage Managers $31.56
Restaurant and Food Service Managers $19.70
BUSINESS, FINANCE & ADMINISTRATIVE OCCUPATIONS
Financial Auditors & Accountants $32.47
Administrative Officers $34.30
Bookkeepers $21.97
HEALTH OCCUPATIONS
Registered Nurses $29.42
Nurse Aides, Orderlies and Patient Service Associates $52.55
SALES & SERVICE OCCUPATIONS
Chefs $17.48
Retail Salespersons and Sales Clerks $19.56
TRADES, TRANSPORT & EQUIPMENT OPERATORS AND RELATED OCCUPATIONS
Plumbers $19.00
Welders and Related Machine Operators $26.52
Carpenters $25.45
Heavy-Duty Equipment Mechanics $32.47
Automotive Service Technicians, Truck and Bus Mechanics and Mechanical Repairers $24.73
Truck Drivers $22.93
Heavy Equipment Operators (Except crane) $23.57
Construction Trades Helpers and Labourers $18.50
OCCUPATIONS UNIQUE TO PROCESSING, MANUFACTURING & UTILTIIES
Labourers in Wood, Pulp and Paper Processing $26.86

Source: Government of BC

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