TAX RATES

B.C.’s corporate tax rates are the second lowest in Canada, and personal tax rates are the lowest in the country. B.C has a provincial sales tax of seven per cent; Canada has a goods and services tax of five per cent.

Municipal tax rates vary (see each community’s website).

Since 2003, B.C.’s economy has outperformed Canada’s every year.
It has the highest employment levels in history (from 2001 – 2008) – 432,000 new jobs. With the global economic crisis, 2009 has seen cuts in forestry, mining and related service industries.

B.C. has the lowest personal income taxes at every level up to $116,000.
Since 2001, the B.C. government has made over 120 tax cuts.
The province has cut red tape by 43 per cent since 2001.

The province has unveiled ‘bizpal,’ a one-stop service outlining all the licenses and permits you’ll need from various levels of government.

B.C. ‘s top marginal corporate income tax rate is 30.5 per cent, compared to California’s 41 per cent.

Real disposable income per capita up 17 per cent since 2001, making for a great cost of living.

            **stats taken from www.gov.bc.ca/yourbc/taxpayers
Photo: Diana Scott