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

WATCH: Group of 150 gather for Fraser Valley Marches for Women in Chilliwack

Waving signs, women make their way down Young Road as part of second annual march in Chilliwack

Chilliwack prolific offender wanted yet again

B.C.-wide warrant issued for David Allen Geoghegan

One man, two women charged with stolen pickup downtown Chilliwack

None of the three have criminal history in B.C.

COLUMN: Should elected officials block constituents and reporters on social media?

Ottawa mayor was sued for doing that but a Chilliwack school trustee didn’t get that message

Chilliwack-Hope MP says new summer jobs grant application no longer includes ‘values test’

Those with anti-abortion beliefs left out last year because of requirement to respect the Charter

VIDEO: Students in MAGA hats mock Native American at Indigenous Peoples March

Diocese in Kentucky says it is investigating the matter, caught on video by onlookers

Want to avoid the speculation tax on your vacant home? Rent it out, Horgan says

Premier John Horgan and Sheila Malcolmson say speculation and vacancy tax addresses homelessness

CONSUMER REPORT: What to buy each month in 2019 to save money

Resolve to buy all of the things you want and need, but pay less money for them

UPDATE: B.C. woman and boy, 6, found safe, RCMP confirm

Roseanne Supernault says both she and her six-year-old nephew are fine and she has contacted police

PHOTOS: Women’s Marches take to the streets across B.C. and beyond

Women and allies marched worldwide protesting violence against women, calling for equality

Anxiety in Alaska as endless aftershocks rattle residents

Seismologists expect the temblors to continue for months, although the frequency has lessened

Women’s March returns across the U.S. amid shutdown and controversy

The original march in 2017, the day after President Donald Trump’s inauguration, drew hundreds of thousands of people

Federal Liberals announce former B.C. MLA as new candidate in byelection

Richard Lee will face off against federal NDP leader Jagmeet Singh

No winning ticket in $10 million Lotto Max jackpot

No win in Friday night’s draw means the next Lotto Max draw will be approximately $17 million

Most Read