According to the Tourism Industry Association of BC, revenues are down 69 per cent across the board (Image Credit: CFJC Today)

By Chad Klassen

SMALL BUSINESS RELIEF

Tourism, hospitality operators feeling hopeful about B.C. Liberal promise to eliminate small business tax

Oct 8, 2020 | 4:51 PM

KAMLOOPS — Tourism has been the hardest hit sector in B.C. since the onset of the pandemic that hit leading up to primetime season.

According to numbers from the Tourism Industry Association of BC, revenues this year are down 69 per cent across the board.

“You’re talking a $22 billion industry that employs more than 300,000 people, 19,000 businesses, so this is an industry that if it does not receive the help it needs, it could devastate our economy,” noted Tourism Kamloops CEO Bev DeSantis.

It’s why B.C. Liberal Leader Andrew Wilkinson promised on Thursday (Oct. 8) a loan program for the tourism sector and the elimination of the two per cent small business tax. It’s a move Kamloops-South Thompson Liberal candidate Todd Stone says will help stop the bleeding for many affected businesses.

Two and Out

PETERS: Working in local government may pay well, but it sure doesn't seem like a lot of fun

15h ago

Looped In

LOOPED IN WITH NIKKI OMEN: October 10, 2024

Oct 10, 2024

One Man's Opinion

COLLINS: If it's Tuesday, this must be Kamloops

Oct 10, 2024

“The Rocky Mountaineer not coming through Kamloops is a $50 million direct hit to the local economy,” he said. “That’s $50 million that’s not being injected primarily into small businesses — hotels, restaurants and an assortment of other businesses.”

These are measures the Kamloops Chamber of Commerce has been advocating for during the pandemic, especially the small business tax break.

“There is concern things are going to get worse over the winter and not better for small businesses, so this promise is one we’ve been asking for in a roundabout way of finding ways to put more cash in businesses’ pockets and keep revenue there, so these businesses can stay afloat over the winter and fall,” said Kamloops Chamber President Tyson Andrykew.

NDP candidate for Kamloops-North Thompson Sadie Hunter doesn’t feel a tax break is the answer. The party believes putting more money in everyone’s pockets will help prop up some businesses affected by the tourism downturn.

“Straight away, $1,000 payment to families and $500 to single people,” said Hunter. “That is intended to help people be able to have a little bit of extra cash if they want to go out for dinner or do something more locally and support local business. That’s the kind of fiscal injection that small businesses really need right now, especially the ones that are just breaking even.”

Prior to the election, the NDP had also committed to $300 million for small and medium-sized businesses in the tourism industry.

As for the Liberal promise, the Chamber says the loan program might not be as significant as the tax break, especially for bigger businesses.