Business costs
Toronto is competitive, provides excellent value and large profit potential. Our business costs are much lower than most U.S. centres and key competitors. The biggest savings are on skilled labour and industries doing R&D.
Canada was ranked the most cost-effective location among nine established industrial countries studied in Competitive Alternatives: Guide to International Business Location, 2010 Edition, a comprehensive, international survey conducted by KPMG. The survey examined 17 industry operations in 112 cities throughout Australia, Canada, France, Germany, Italy, Japan, Mexico, the Netherlands, the United Kingdom, and the United States.
Canada's cost index of 95.0 represented a 5.0% cost advantage over the United States baseline (US=100).
In 2010, Toronto ranked first in cost competitiveness with lower overall average business costs than all 22 large U.S. cities in the study including Atlanta, Los Angeles, Philadelphia, Detroit and New York.
Wages
Check out the average wages for over 225 occupations in Toronto.
Utilities
Check out the business rates for natural gas, electricity and water and also compare utility costs in Toronto to select U.S. cities.
Operating costs
Canada provides the greatest business cost advantage among nine industrialized nations studied.
Tax rates
2010 data for City of Toronto tax rates for commercial, industrial, residential and multi-residential enterprises as well as corporate income tax, employment insurance and pension plan premiums.
Real estate
Toronto offers a full range of investment opportunities with excellent access to customers, suppliers and skilled labour.
Building permits
In 2006 over $3.4 million was spent on building permits in Toronto. Find more information about Toronto's building permits and download an online Building Permit application.
Incentives
Of the G-7, Canada offers the greatest tax subsidies to large firms, and second largest for small firms. For example all R&D costs including capital equipment are 100% deductible.
Development charges
Toronto does not have municipal development charges on industrial, office or institutional development projects.
Municipal Land Transfer Tax
The Municipal Land Transfer Tax (MLTT) is charged on properties purchased in Toronto and on disposition of all beneficial interests with closing dates on or after February 1, 2008.