Taxes & Incentives
Tumbler Ridge has the eleventh lowest residential tax rate in British Columbia and one of the lowest business tax rates.
Taxes and Fees
In British Columbia the only taxes that are unique in individual communities are property taxes. These are applied on the assessed value of land and improvements (buildings). There are no taxes on payrolls, machinery and equipment, or inventory.
Northern Residents Deduction
If you have lived in the Tumbler Ridge Region on a permanent basis for work-related reasons for at least six consecutive months, you may qualify for the Northern Residents Deduction. This deduction can result in a significant tax saving on your personal income taxes.
Federal and Provincial Taxes
Canada has a five percent (5%) value-added tax called the Goods and Services Tax (GST). It is fully recoverable for all business inputs.
British Columbia has a seven percent (7%) sales tax. Various business inputs are exempt from the tax, including production machinery and equipment, software development, construction labour and various materials.