Sunshine Coast Economic Development - British Columbia, Canada

Taxation

Taxation

Personal Income Tax

Federal Provincial
Earned Income 15 – 29% 5.1 – 14.7%
Other Income (e.g. pensions, dividends) 0 – 14.5% 0 – 3.9%
Capital Gains 7.5 – 14.5% 2.1 – 7.4%

Residential Property Values

Multiple Listing Service (MLS®) residential sales in the province were forecast to decline 23 per cent to 80,000 units in 2018, after recording 103,768 residential sales in 2017. MLS® residential sales are forecast to increase 12 per cent to 89,500 units in 2019. The 10-year average for MLS® residential sales in the province is 84,800 units. The mortgage stress test on conventional mortgage borrowers cooled housing markets across the country in 2018. The erosion of affordability and loss of purchasing power induced by the stress test, as well as by moderately rising interest rates, are expected to temper housing demand through 2019. Despite the drag from mortgage policy, strong performance of the BC economy continues to be highly supportive of housing demand. – BC Real Estate Association, Fourth Quarter Housing Forecast, November 2018

Area Median Sales Price – Dec 2018 % Change (2017 vs 2016)
Gibsons (includes Areas E and F) $ 625,000 – 14%
District of Sechelt $ 586,625 + 11%
Halfmoon Bay (Area B) $ 710,000 + 6%
Pender Harbour (Area A) $ 627,500 + 22%
Sunshine Coat Avg. $ 610,855 +10%
Burnaby $ 650,000 +8%
North Vancouver $ 985,000 -4%
Vancouver $ 895,000 +4%

While prices are on the rise throughout BC, Sunshine Coast prices and residential taxes and charges still compare very favourably with other popular markets. Please note that the higher median prices in Halfmoon Bay and Pender Harbour reflect the number of large, luxury waterfront homes on acreages on the market in those areas.

Average Residential Assessment Average Residential Taxes
Town of Gibsons $ 625,000 $ 2,329
District of Sechelt $ 586,625 $ 2,285
Sunshine Coast Regional District* $ 610,855
City of Burnaby $ 650,000 $ 1,846
City of North Vancouver $ 985,000 $ 2,431
City of Vancouver $ 895,000 $2,555

* Approximate average: assessments and tax rates vary widely across rural areas

Business and Industrial Taxes

Residential mil Rate Business mil Rate Industrial mil Rate
Town of Gibsons 3.7271 10.5315 9.1115
District of Sechelt 3.89253 13.00263 9.35439
Sunshine Coast Regional District 5.20 * 13.0000 17.9000
City of Burnaby 2.8395 11.9395 11.6773
North Vancouver District 2.85467 13.35655 10.97047
City of Vancouver 2.46826 12.09002 10.85419

* Approximate average: rates vary across Areas

Sales Tax

Federal Goods & Services Tax (GST) 5% GST on business inputs is fully recoverable
Provincial Sales Tax (PST) 7% Some business purchases are exempt

 

Sunshine Coast Regional Economic Development Organization

District of Sechelt Sechelt Indian Government District SCRD   Gibsons

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