Key Issue: Finance & Taxation

In response to recent production curtailment and permanent shutdown announcements by forest sector companies, Fiona Famulak, President and CEO of the BC Chamber of Commerce, released the following statement: “We know that difficult decisions like these are not taken lightly. Similarly, we know their consequences will be felt for a long time by workers, their […]

In response to today’s call by the BC Green Party to increase the exemption threshold from $500,000 to $1,500,000 for businesses paying the Employer Health Tax, Fiona Famulak, President and CEO of the BC Chamber of Commerce, released the following statement: “The BC Chamber of Commerce supports the BC Green Party’s call to increase the […]

The economic environment is increasingly tenuous for many B.C. businesses grappling with rising input costs, a shortage of workers, supply chain disruptions and rising interest rates. B.C. businesses are also concerned the provincial economy is weakening as the global economy shows increasing signs of slowing down. As B.C. businesses struggle to keep costs down for […]

In response to today’s introduction of Bill 28, Municipal Affairs Statutes (Property Taxation) Amendment Act, 2022 by the BC Government, Fiona Famulak, President and CEO of the BC Chamber of Commerce, released the following statement: “A primary focus of the BC Chamber of Commerce is advocating for measures that reduce costs for small- and medium-sized […]

In response to the provincial government’s release of its Report on the Budget 2023 Consultation, Fiona Famulak, President and CEO of the BC Chamber of Commerce, released the following statement: “We are pleased that some of the 216 recommendations in the Report on the Budget 2023 Consultation are aimed at addressing the challenges that small- […]

The Northwest economy has traditionally been based on natural resource extraction, which has generated tremendous amounts of wealth for the province. However, the region has a long history of boom and bust, and infrastructure is aging. There are several major industrial projects proposed in the Northwest, and more recently LNG Canada and Coastal Gaslink made […]

The business community, especially small- and medium-sized businesses, seeks additional accessibility and increased transparency in government engagement opportunities to ensure more equitable and inclusive decision making, especially with respect to areas such as taxation, socio-economic impacts, economic development, land, and water management. Background In British Columbia, compared to other provinces, there are more small businesses […]

Many businesses across BC are facing an existential threat in the form of unsustainably high property tax bills. This problem is fueled by the BC Assessment process of valuing properties based on the “highest and best use” of the property (such as a redevelopment), and not on its current use. Due to this model, businesses, […]

Across the province, credit unions are being forced to turn away loans to small and medium-sized[1] businesses because they are subject to an onerous regulatory penalty, unique to British Columbia. This regulatory penalty – the “commercial cap” – is problematic for two reasons: Businesses such as wineries, childcare centres, clean-tech, and small-scale housing developers are […]

On February 22, 2022, the provincial government in B.C. announced changes to its tax laws with direct effects on the heating and cooling industry. Effective April 1, 2022, the provincial sales tax (“PST”) rate on the purchase or lease price of fossil fuel combustion systems will increase from 7% to 12%, while heat pumps will […]