A new report indicates small business owners may be paying too much in property taxes in British Columbia. The Canadian Federation of Independent Businesses (CFIB) says small business owners in B.C. pay approximately 2.78 times as much in tax for a property of the same value as a homeowner.
According to the CFIB, property tax for business owners increased for two decades before local leaders did anything about it. Property taxes for B.C. businesses have decreased for three straight years, but only by small margins. Although the CFIB acknowledges property taxes have not increased, the group says more needs to be done to help businesses and offset the years of increases.
According to the group, 69 percent of business leaders polled say property taxes are the most harmful hurdle for their company in the area. Some have opted to move outside of B.C. in order to escape the financial burden.
One way for small businesses to avoid paying property tax on their business is to instead rent a workspace from Jiffy Self Storage. New workspace storage units are climate controlled and offer internet access, making it a perfect place to rent out some office space.
From Toronto's leading self storage facility comes Jiffy Workspaces for small businesses, start-up offices for multi-services, eBay Power Sellers and merchandising businesses. These air conditioned incubator spaces are available with internet and can serve as a fully-functional workspace. Storage-on-demand is a great feature for any start-up businesses that needs seasonal or monthly storage to match their business office needs and only Jiffy Self Storage offers this unique service.