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 2019
Levy Residential Utilities Supportive Housing Major Industry Light Industry Business/Other Managed Forest Land Rec/Non-Profit Farm
General – City 4.98 40.0 4.98 71.81 20.39 13.57 16.50 14.52 13.65
School 1.8953 13.2 0.1 3.7 3.7 3.7 1.9 2.3 7.1
BCAA 0.0389 0.4830 0.0000 0.4830 0.1082 0.1082 0.2262 0.0389 0.0389
Regional District (TNRD) 0.3100 1.0850 0.3100 1.0540 1.0540 0.7595 .9300 .3100 .3100
Hospital District 0.4598 1.6093 0.4598 1.5633 1.5633 1.1265 1.3794 0.4598 0.4598
Other 2.7040 16.3773 0.8698 6.8003 6.4255 5.6942 4.4356 3.1087 7.9087
Total All Rates 7.6840 56.3773 5.8498 78.6103 26.8155 19.2642 20.9356 17.6287 21.5587
Other Rates
North Shore BIA 0.604304
Central Business BIA 0.694023
Provincial and Federal Tax
  Small Business Manufacturing Non-Manufacturing
Federal - 2019      
• Rate 19% 15% 15%
• Formula (i.e. Sales, Property & Payroll) n/a n/a n/a
• Permitted Yes Yes Yes
Provincial - 2019      
• Rate 2% 11% 11%
• Formula (i.e. Sales, Property & Payroll) n/a n/a n/a
• Permitted No No No
• Local Tax No No No
Total Federal & Provincial Corporate Tax 11% 26% 26%

Source: Corporate Income Tax (As of Jan. 1, 2019)

Employment Insurance - 2019
  Rate Notes
Employee Premium Max Annual Insurable Earnings - $53,100 Rate 1.62% Maximum annual insurable premium $860.22
Employer Premium 1.4 time employees premium Employer premium annual max of $1,204.31
Social Insurance (Canada Pension Plan – CPP) – 2019
  Rate Notes
Taxable Base: Based on annual gross salary up to $57,400, basic exemption of $3,500. Both employers and employees are required to contribute to CPP
Employee/Employer Contribution Rate   5.10% Employer premium equal to employee premium
Maximum Annual Employer Contribution: Per Employee $2,748.90 Employer contribution matches employee contribution.
Maximum annual self-employed contribution $5,497.80
Maximum Annual Self-employed contribution: $5,187.60

Source: Government of Canada

Sales/Use Tax B.C.
Rate Notes
Goods and Services Sales Tax 5% GST on business inputs is fully recoverable
Provincial Sales Tax 7% GST on business inputs is fully recoverable
Local 0% BC has no local sales tax

Note: BC does not have personal property taxes
Note: BC does not tax Gross Receipts

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.

Office Space Rental Rates 2017


Location Price Per Sq. Ft.
Metro Vancouver (Avg Asking Net Rent) $24.87
Kelowna $10 - $26
Kamloops (Regional) $9 - $22

Source: Colliers Canada. Report titles
Colliers Canada - THOMPSON-OKANAGAN OFFICE - Second Quarter 2017
METRO VANCOUVER - OFFICE MARKET - Second Quarter 2017

Retail Space Rental Rates 2017


Location Price Per Sq. Ft.
Vancouver (Regional) $20 - $60
Kelowna $14 - $38
Kamloops (Downtown) $10 - $25
Kamloops (North Shore) $10 - $17
Kamloops (Neighbourhood/Power Centres) $15 - $45

Source:
Colliers Canada - THOMPSON-OKANAGAN RETAIL - Second Quarter 2017
Colliers Canada - National Retail Report Canada - SPRING 2017 EDITION

Occupation Title Average Full Time Hourly Wages
MANAGEMENT Median wage 2018 ($/Hour)($CDN)
Manager, Financial (0111) $38.46
Manager, Administrative services (0114) $32.00
Manager,- Construction (0711) $36.25
Manager, Engineering (0211) $54.00
BUSINESS, FINANCE & ADMINISTRATIVE OCCUPATIONS
Manager, Human Recourse (0112) $38.46
Insurance, real estate and financial brokerage managers (0121) $38.46
Accounting technicians & bookkeepers $20.00
HEALTH
Registered Nurses (3012) $40.32
Licensed practical nurses (3233) $26.40
Home Support Worker (4412) $18.00
Nurse Aides, Orderlies and Patient Service (3413) $20.72
Dental hygienists and dental therapists (3222))
SALES & SERVICES
Graphic Designer $24.50
Retail Salespersons $12.65
Software engineers and designers (2173) $38.46
Purchasing Agents and Officers $26.15
Chef (6321) $17.00
TRADES, TRANSPORT & EQUIPMENT OPERATORS AND RELATED OCCUPATIONS
Plumbers $26.00
Welder and related machine operators (7237) $28.00
Carpenters $25.00
Railway and Yard Locomotive Engineers (7361) $37.00
Heating, refrigeration and air conditioning mechanics (7313)n $35.10
Automotive service technician, truck & bus mechanics (7321) $24.35
Transport drivers (7511) $25.00
Heavy Equipment Operator (Except Crane) (7521) $27.86
Construction Trades Helpers and Labourers (7611) $19.00
Labourers in wood, pulp and paper processing (9614) $26.00

Source: https://www.jobbank.gc.ca/wagereport/location/22341

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