Tax & Incentives
Overview
British Columbia maintains a global reputation as a great place to do business through strong fiscal management, a stable economy, and streamlined pro-business regulations. In British Columbia, labour, utility, and facility costs are generally lower than most top North American locations, as are corporate income tax rates. Combined with a dependable legal system, British Columbia is the optimal location for business opportunities in North America and around the world.
Competitive Advantages:
- Lower labour, power, and facility costs, compared to other major North American urban centers, make British Columbia, Canada an attractive destination for business.
- BC has the lowest provincial personal income taxes in Canada for individuals earning up to $125,000 and among the lowest general corporate income taxes in the G7.
- BC has streamlined its regulations, giving you more time to focus on running your business.
- British Columbia takes pride in strong fiscal management and a stable, business-friendly economy.
Resources
COEDC Business Financing Guide: A compilation of financing resources and business incentives for Central Okanagan businesses.
City of Kelowna Developer Incentives: The City of Kelowna has several incentives available to encourage alignment with the City’s strategic priorities for urban development.
Work BC Incentives & Tax Credits: Business in BC may qualify for a variety of attractive financial incentives. If you’re starting or expanding a business in BC, visit WorkBC to find out how these programs could help you.
Ministry of Finance Corporate Tax Income Credits: There are many Federal and Provincial tax credits available for businesses that qualify based on industry. The B.C. Ministry of Finance publishes a comprehensive list of these tax credits.
Trade and Invest British Columbia: Provides a list of of tax credits and programs targeting specific sectors of the economy as well as Canadian federal government programs and incentives.
Other notable programs that are non-sector specific Include:
- BC Employer Training Tax Credit (Province of B.C.)
- BC Small Business Venture Capital Tax Credit (Province of B.C.)
- Climate Action and Low Carbon Operations Incentives (BC Hydro)
- InBC Investment Fund (Province of B.C.)
- InnovateBC R&D Tax Grants (Province of B.C.)
- Scientific Research and Experimental Development Tax Incentive (Government of Canada & Province of B.C.)