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

School strike: SD63 says grade 12 students ‘will not lose their graduation year’

Parents, students concerned about educational impact of CUPE 441 strike

Cineplex to show free holiday movies to support Boys and Girls Clubs of Canada

Community Day will be on Dec. 7 from 9 a.m. to 11 a.m at select theatres

Greater Victoria Harbour Authority’s second steel shipment arrives safely

The GVHA’s original shipment was lost at sea in December 2018

VicPD arrest one person after alleged assault in Victoria

Officers responded to the 1000-block of Pandora on Tuesday

Victoria police pilot e-tickets for its traffic division

Digitized tickets can now be paid for online

‘We love you, Alex!’: Trebek gets choked up by ‘Jeopardy!’ contestant’s answer

The emotional moment came in Monday’s episode when Trebek read Dhruv Gaur’s final answer

POLL: Do you support CUPE workers in their dispute with School District 63?

SD63 schools to remain closed as strike continues Tuesday

Birthday boy: Pettersson nets 2 as Canucks beat Predators

Vancouver ends four-game winless skid with 5-3 victory over Nashville

Judge rejects Terrace man’s claim that someone else downloaded child porn on his phone

Marcus John Paquette argued that other people had used his phone, including his ex-wife

Petition for free hospital parking presented to MP Jody Wilson-Raybould

What started as a B.C. campaign became a national issue, organizer said

Petition to ‘bring back Don Cherry’ goes viral after immigrant poppy rant

Cherry was fired from his co-hosting role for the Coach’s Corner segment on Nov. 11.

Woman airlifted with serious injuries after being struck by car in Nanaimo

Woman, hit in crosswalk, suffers life-threatening injuries; driver co-operating with police

B.C.’s high gasoline prices still a mystery, Premier John Horgan says

NDP plans legislation this month, seeks action from Justin Trudeau

Group walking on thin ice at B.C. lake sparks warning from RCMP

At least seven people were spotted on Joffre Lakes, although the ice is not thick enough to be walked on

Most Read