B.C. boosts venture capital tax breaks

The B.C. government will add an extra $3 million to its small business venture capital tax credit and set up an expert panel to review business taxes in B.C., Premier Christy Clark announced Wednesday.

Premier Christy Clark speaks to Surrey Board of Trade breakfast meeting Wednesday.

The B.C. government will add an extra $3 million to its small business venture capital tax credit and set up an expert panel to review business taxes in B.C., Premier Christy Clark announced Wednesday.

The province currently budgets $30 million a year to provide tax credits to risk-taking investors who put money into qualifying ventures, Clark told a Surrey Board of Trade breakfast meeting.

“One of the things we know is that the majority of new jobs in any economy are created by new businesses,” Clark said. “We’ll be expanding [the tax credit program] so more angel investors can get a 30 per cent refundable tax credit for eligible small businesses. And that means these job creators will get a leg up on capital, it means they’ll get a leg up on hiring and on receiving the strategic advice that they need from experienced investors in the marketplace.”

The announcement is the third in a week-long series of campaign-style stops to roll out an employment development plan that Clark is pitching as “the central mission of my job as premier.”

Monday she visited Prince Rupert to announce a $90 million expansion of the Ridley Island bulk commodity port, cost shared with the federal government and CN Rail. Tuesday in Kamloops, Clark set a target of increasing international students in B.C. by 50 per cent, with regional panels to identify the skills required for new workers.

In Surrey, Clark also announced that the B.C. government will extend its apprenticeship training tax credit program until 2014. That program currently spends $31 million a year on refundable tax credits for wages paid to eligible apprentices.

Clark also vowed to extend the B.C. Liberal government’s commitment to no net increase in regulations, and to introduce legislation that will simplify government approvals and reduce regulations on citizens and small businesses.

NDP leader Adrian Dix said Wednesday the premier’s initial job announcements have been disappointing, and he expects to see a full plan with job creation targets by the end of this week.

“Clearly what we’ve seen so far is a list of things that were already in the government’s in-basket that they’re just patching together as a series of announcements for her,” Dix said.

One way the government could create construction jobs would be to get rid of the harmonized sales tax sooner than the spring of 2013, he added.

Just Posted

Forestry workers set to begin job action in Kootenays

Operations in Castlegar, Cranbrook, Galloway, Elko, Radium, Golden may see job action this week.

Tour company plans shuttle service to Kelowna for stranded travellers

SMT Kootenay wants to help travellers get in and out of ‘Cancelgar’ in winter months

Josie Hotel will be ready on opening day, says management

West Kootenay’s first ski-in, ski-out boutique hotel to open this month

Castlegar pastors find life in wheelchair a challenge

The men found the obstacles were both physical and mental.

Castlegar’s Waterline property purchased; owners to protect it for rock climbers

New owners plan to subdivide, sell bluffs to recreational climbing group

Josie Hotel will be ready on opening day, says management

West Kootenay’s first ski-in, ski-out boutique hotel to open this month

Price makes 36 saves as Habs edge Canucks 3-2

Late goal lifts Montreal past Vancouver

BC Minister of Agriculture loses stepson to accidental overdose

Lana Popham announces death of her 23-year-old stepson, Dan Sealey

Canadian military’s template for perfect recruits outdated: Vance

Gen. Jonathan Vance, the chief of defence staff says that the military has to change because the very nature of warfare is changing, particularly when it comes to cyber-warfare

‘Toxic’ chosen as the Word of the Year by Oxford Dictionaries

Other top contenders for 2018 include ‘gaslighting’ and ‘techlash’

RCMP bust illegal B.C. cannabis lab

Marijuana may be legal but altering it using chemicals violates the Cannabis Act

Canada defeats Germany 29-10 in repechage, moves step closer to Rugby World Cup

Hong Kong needs a bonus-point win over Canada — scoring four or more tries — while denying the Canadians a bonus point

Avalanche Canada in desperate need of funding

The organization provides avalanche forecasting for an area larger than the United Kingdom

5 B.C. cities break temperature records

Parts of B.C. remain warm, at 10 C, while others feeling chilly

Most Read