PAUSE THE IMPLEMENTATION OF THE PROVINCIAL SALES TAX ON FOSSIL FUEL COMBUSTION SYSTEMS AND HEAT PUMPS INITIATIVE (2022)
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 […]
MAXIMIZING TAXPAYER DOLLARS ON PUBLIC INFRASTRUCTURE PROJECTS AND DEFENDING THE RIGHTS OF BC COMPANIES AND WORKERS (2022)
To maximize the benefits of taxpayer dollars spent on public infrastructure projects and ensure that all qualified BC companies and employees can work on and benefit from these projects, an open and fair tendering must be the process by which governments implement public projects. Background In July 2018, the BC Government announced a new approach […]
ADDRESSING BARRIERS TO SUCCESSION PLANNING FOR SMALL TO MEDIUM ENTERPRISES (2022)
Innovation, Science and Economic Development Canada defines an SME when a business employs anywhere from 1 to 499 employees, which includes Micro-enterprises employing 1 to 4 individuals. In Canada, as of 2019, small businesses employed 8.4 million individuals, or 68.8 percent of the total private labour force. By comparison, medium-sized businesses employed 2.4 million individuals […]
FAIR TAXABLE BENEFIT EXEMPTIONS FOR EMPLOYEE GIFT CARDS (2022)
Background Food and fellowship at work are often connected. After all, what’s a staff meeting without coffee and donuts? (Indeed, to some, they’re the only reason to show up.) Food provided by employers can be a vital part of important team-building exercises, a way to show management’s appreciation for a job well done or to […]
CANADIAN ENERGY INNOVATION & SUSTAINABLE FINANCE (2022)
Canada is a leader in environmental, social, and governance (ESG) performance and needs to play a larger role as a leader in providing decarbonized and innovative resources and energy to the world. British Columbia has abundant natural resources and the ability to export those resources to a world that needs them. There are large geopolitical […]
WORKSAFE BC – REFUND OVERFUNDED SURPLUS TO EMPLOYERS (2022)
On its smoothened accounting basis[1], the BC WorkSafe Board of Directors has set the target funding level of assets over liabilities at no less than 130 percent. As set out in the WorkSafeBC December 2020 Annual Report, this indicator was 153 percent (2019: 152 percent). The current policy lacks an upper limit rule. The WorkSafeBC […]
REVAMPING THE PROVINCIAL DISASTER FINANCIAL ASSISTANCE PROGRAM TO ADDRESS THE REALITIES OF CLIMATE CHANGE (2022)
The purpose of Disaster Financial Assistance (DFA) is to provide assistance to individuals who are unable to purchase insurance coverage. Unfortunately, the program has remained largely unchanged over the last 50 years and it is failing to fulfill its intended purpose in a world experiencing the destructive impacts of climate change. There is a desperate […]
CHANGING BC’S SALES TAX MODEL – MOVING BEYOND THE PST (2022)
BC’s tax competitiveness is seriously undermined by the antiquated Provincial Sale Tax. As a small, open trading jurisdiction this cannot be left unaddressed if BC wishes to advance itself as a competitive jurisdiction in our post-pandemic recovery. Background A value added tax is common throughout the world and highly relevant to goods and services taxes […]
BC Chamber of Commerce Responds to BC Budget 2022
The provincial government today unveiled its 2022 budget that reflects its plans to support priorities such as childcare, homelessness and mental health, reconciliation, and the continued transition to a low carbon economy. “The budget provides significant resources to support inclusive and clean growth as outlined in the government’s economic plan of last week,” said Fiona […]
Study shows Teck’s Elk Valley Operations sustain over 30,000 jobs and $1.5 billion in revenues annually to 3 levels of government
An economic study released today by the BC Chamber of Commerce, the United Steelworkers and Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”), Economic Contribution Analysis of Mining Operations in the Elk Valley shows steelmaking coal operations in BC’s Elk Valley make up 80% of Gross Domestic Product (GDP) for the region, sustain […]